THE INDIAN STOCK MARKET DOMESTIC MARKET

THE INDIAN STOCK MARKET DOMESTIC MARKET

The Indian stock market domestic market has droppes in opening dragged by index heavyweights. The market fell for a second straight session as automakers, consumer discretionary and real estate companies continued to extend their losses on the anticipated slowdown in spending as a result of the nationwide cash crunch. The At 9:41 AM, the S&P BSE Sensex is trading at 26,463 down 322 points, while NSE Nifty is trading at 8,197 down 99 points.


The BSE Mid-cap Index is trading down 1.92% at 12,225, whereas BSE Small-cap Index is trading down 2.47% at 12,176.
Sun Pharmaceuticals, SBI, Axis Bank and Dr Reddy's, SBI, ONGC, Dr Reddy's and ICICI Bank are among the gainers, whereas Tata Motors,  Asian Paints, Maruti Suzuki and HDFC are losing sheen on BSE.
All sectors are showing weakness on NSE except banking index in green.
The INDIA VIX is up 5.85% at 18.3825. Out of 1,871 stocks traded on the NSE, 1,261 declined, 245 advanced and 365 remained unchanged today.
A total of five stocks registered a fresh 52-week high in trade today, while 18 stocks touched a new 52-week low on the NSE.
The bold move by the government to ban the widest circulated currency notes has received mixed reactions. Hopes are that after the initial hiccups, things will settle down. Fresh measures are being announced to ease the cash crunch. The market could remain choppy as it opens after a long weekend.

The dollar has cooled a bit resulting in benchmark Treasuries and emerging-market stocks changing direction. The US indices ended mixed; while the Dow and S&P notched up gains, the Nasdaq continued to reel under the Trump effect. IT stocks have been at the receiving end ever since Trump’s surprise win.

On the macro front, exports clocked a healthy 4.62% growth in September. WPI inflation for October will be out at noon while CPI combined inflation for October will be released post market hours.

The MSCI has announced changes to its index components and stocks which have made it to the coveted list will see some buying.  The draft model GST law will be shared with states today.
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