 "Markets cautious ahead of raft of events next week")
Markets traded extremely volatile, moving within the range of 5,850-5,900 this Friday as investors exercise caution ahead of an action packed next week.
US Federal Reserve will decide to cut its $85 billion in monthly bond purchases when it meets on September 17-18 while the Bank of England’s minutes of the meeting will be released on September 18 that will give a hint of the health of UK's economy.
Domestically, the Reserve Bank of India will unveil its mid-quarter policy due on September 20 under the governorship of newly appointed Raghuram Rajan.
The broader markets were positive with mid-caps and small-caps gaining nearly 0.4 per cent on the BSE.
The market breadth was positive. Out of 2,202 stocks traded, 1,170 stocks advanced while 908 stocks declined on the BSE.
RUPEE
The rupee continues to trade weak in afternoon sessions amid dollar demand by importers. However, the rupee recovered from its so far intra-day low of Rs 64.10 due to dollar sale by state-run banks acting on behalf of the Reserve Bank of India (RBI).
At 1PM, the partially convertible rupee was trading at 63.65 per dollar against the yesterday’s close of 63.54 on the Interbank Foreign Exchange.
GLOBAL MARKETS
Asian stocks fell, with the regional benchmark index snapping an 11-day rally, as the U.S. and Russia hold talks on Syria and investors await the outcome of a Federal Reserve meeting next week.
Japan’s Nikkei rose 0.1% at 14,404, Singapore’s Straits Times declined 0.3% at 3,113, China’s Shanghai Composite index fell 1% at 2,235 while Hong Kong’s Hang Seng fell 0.4% to 22,860 today.
European stocks were tad down changed as investors awaited a report on US retail sales. CAC declined 0.05% to 4,105, Germany’s DAX shed 0.1% to 8,482 while UK’s FTSE was down 0.2% to 6,577.
STOCK MOVERS
Domestically, the key sectoral indices gainers were capital goods, power, PSU, realty, auto, bankex while IT, consumer durables, FMCG and metal indices dropped on the BSE.
The gainers included counters such as BHEL rising 5%, Hero MotoCorp and Larsen & Toubro were up 2.5% and 2% respectively, Coal India added 2.3% on the BSE.
The laggards were Wipro and Infosys declined 4% and 1.4% respectively, Bharti Airtel was down 2.7%, Tata Steel fell 1.5% on the BSE.
US Federal Reserve will decide to cut its $85 billion in monthly bond purchases when it meets on September 17-18 while the Bank of England’s minutes of the meeting will be released on September 18 that will give a hint of the health of UK's economy.
Domestically, the Reserve Bank of India will unveil its mid-quarter policy due on September 20 under the governorship of newly appointed Raghuram Rajan.
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At 1PM, the 30-share Sensex fell 21 points at 19,760 and the 50-share Nifty rose 3 points at 5,854 levels.
The broader markets were positive with mid-caps and small-caps gaining nearly 0.4 per cent on the BSE.
The market breadth was positive. Out of 2,202 stocks traded, 1,170 stocks advanced while 908 stocks declined on the BSE.
RUPEE
The rupee continues to trade weak in afternoon sessions amid dollar demand by importers. However, the rupee recovered from its so far intra-day low of Rs 64.10 due to dollar sale by state-run banks acting on behalf of the Reserve Bank of India (RBI).
At 1PM, the partially convertible rupee was trading at 63.65 per dollar against the yesterday’s close of 63.54 on the Interbank Foreign Exchange.
GLOBAL MARKETS
Asian stocks fell, with the regional benchmark index snapping an 11-day rally, as the U.S. and Russia hold talks on Syria and investors await the outcome of a Federal Reserve meeting next week.
Japan’s Nikkei rose 0.1% at 14,404, Singapore’s Straits Times declined 0.3% at 3,113, China’s Shanghai Composite index fell 1% at 2,235 while Hong Kong’s Hang Seng fell 0.4% to 22,860 today.
European stocks were tad down changed as investors awaited a report on US retail sales. CAC declined 0.05% to 4,105, Germany’s DAX shed 0.1% to 8,482 while UK’s FTSE was down 0.2% to 6,577.
STOCK MOVERS
Domestically, the key sectoral indices gainers were capital goods, power, PSU, realty, auto, bankex while IT, consumer durables, FMCG and metal indices dropped on the BSE.
The gainers included counters such as BHEL rising 5%, Hero MotoCorp and Larsen & Toubro were up 2.5% and 2% respectively, Coal India added 2.3% on the BSE.
The laggards were Wipro and Infosys declined 4% and 1.4% respectively, Bharti Airtel was down 2.7%, Tata Steel fell 1.5% on the BSE.