Sensex ends 181 points lower, Nifty settles below 10,150; metal stocks dive

All the happened in the market here

9:58 AM

Mutual fund flows into equities hit Rs 1-lakh crore mark in CY17

Domestic mutual funds (MFs) continue to pour money into equity markets, with their net flow crossing Rs 1-lakh crore mark during calendar year 2017 (CY17).

 

Till November 10, MFs pumped in a net Rs 102,810 crore in equities - up an over three-fold as compared to the previous year (CY16) when they had put Rs 29,374 crore in equities during the same period, Securities and Exchange Board of India (Sebi) data show. READ THE FULL STORY HERE

Equity mutual fund investment

9:55 AM

Nomura on GST rates

 

During the 23rd Goods and Services Tax (GST) council meeting, tax rates were lowered for 213 items. The largest changes were made in top 28% tax bracket, where 178 (out of 228 items) were moved into the 18% tax bracket.

 

Will these changes result in lower inflation? The disinflation expected by the government after the GST implementation (in July 2017) did not materialise due to the asymmetric pricing response of firms (sticky prices downwards, but more flexible upwards), delayed credit (on input tax and transition stocks) and because benefits from the tax changes manifested in other forms (e.g., more volume per pack). This time may not be very different.

9:51 AM

Oil prices slide

 

Oil prices tumbled on Wednesday, continuing Tuesday’s slide after the International Energy Agency cast doubts over the past months’ narrative of tightening fuel markets.

 

Brent crude futures were at $61.47 per barrel at 0106 GMT, down 74 cents, or 1.2% from their last close.

 

US West Texas Intermediate (WTI) crude was at $55.10 per barrel, down 60 cents, or over 1%.

9:32 AM

Mutual fund flows into equities hit Rs 1-lakh crore mark

 

Domestic mutual funds (MFs) continue to pour money into equity markets, with their net flow crossing Rs 1-lakh crore mark during calendar year 2017 (CY17). Till November 10, MFs pumped in a net Rs 102,810 crore in equities - up an over three-fold as compared to the previous year (CY16) when they had put Rs 29,374 crore in equities during the same period, Securities and Exchange Board of India (Sebi) data show. READ FULL REPORT

9:24 AM

Sectoral trend

Source: NSE

9:21 AM

Sensex heatmap at open 

Source: BSE

9:18 AM

Markets check

At 9:17 am, the S&P BSE Sensex was trading at 32,882, down 59 points, while the broader Nifty50 was ruling at 10,166, down 20 points. 

9:09 AM

Nifty outlook by HDFC Securities

 

From the All-time high of 10,490 registered on 6th Nov 2017, Nifty has corrected more than 300 points to 10,175. Nifty formed major bottom at 9,687 on Sept 28, 2017 and if were to apply Fibonacci retracement of the entire upswing from 9,687 to 10,490, then 50% Fibonacci retracement comes at 10,089, which can act as a support going forward. On the upside 10,300-10,350 is the strong resistance zone in Nifty. READ MORE

9:07 AM

Technical calls

 

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9:03 AM

Wall Street update

 

US stock markets closed lower on Tuesday, as a fall in oil prices pulled down energy shares. The Dow Jones edged down 30.23 points or 0.13% to 23,409.47. The wider S&P 500 index fell 5.97 points or 0.23% to 2,578.87, and the tech-focused Nasdaq index was down 19.73 points or 0.29% to 6,737.87. 

8:59 AM

Asian markets

 

Asian stocks slipped in today's trade. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.16%. Australian stocks dropped 0.48% and South Korea’s KOSPI shed 0.5%. Japan’s Nikkei lost 0.8%.   

8:47 AM

Singapore Nifty

 

At 8:45 am, SGX Nifty, an early indicator of Nifty50 performance, was trading at 10,195, down 32 points or 0.32%.

8:45 AM

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