NIFTY SLIPS & WEAK RUPEE

Beginning today with weakness:-

Today, with the start of the rupee against the dollar has weakened. The rupee today fell by 8 paise at 66.79 is open. See the rupee against the dollar was stronger yesterday. The rupee strengthened by 8 paise yesterday closed at the 66.71 level. On Friday, the rupee had ended 7 paise down at 66.79.

Nifty slips below

The Sensex and Nifty staged a gap down opening in trades today on the back of weak global cues. The domestic market dropped the most in four-weeks tracking a rout in global equities amid mounting anxiety ahead of next week’s American presidential election.

At 9:33AM, the S&P BSE Sensex is trading at 27,613 down 264 points, while NSE Nifty is trading at 8,539 down 86 points.

The BSE Mid-cap Index is trading down 1.28% at 13,269 whereas BSE Small-cap Index is trading down 1.22% at 13,391.

NTPC, Dr Reddy's, M&M and HUL are among the gainers, whereas ONGC, SBI, ICICI Bank, Adani Ports and GAIL are losing sheen on BSE.

All the BSE sectoral indices were trading in the negative territory.

The INDIA VIX is up 6.06% at 16.6900. Out of 1,871 stocks traded on the NSE, 1,337 declined, 182 advanced and 352 remained unchanged today.

A total of 19 stocks registered a fresh 52-week high in trade today, while nine stocks touched a new 52-week low on the NSE.

The rupee opened lower by eight paise at 66.78/$ as against the previous close of 66.70/$.

Asian markets opened weak as overnight US indices triggered a sharp correction in global markets with Europe, Latin America following suit. This after pollsters predicted a closer than expected result in the US elections on the 8th November which showed both candidates evenly poised. This set the "cat among st the pigeons' & the Dow Jones slipped to July levels from where the rally started giving up all the gains of the last 4 months.

Expect high volatility as data is analysed by experts & opinion on the results keeps market on the tenter hooks. Gold continues to hit new highs as uncertainty drives the price higher.

The Fed meet underway is expected to keep rates unchanged. Investors have priced in a status quo for now ahead of the US Presidential elections.

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