BANKS DOWN, SENSEX NIFTY OPENS FLAT

FREE EQUITY TIPS |  BANKS DOWN, SENSEX NIFTY OPENS FLAT:-

The markets open flat and on a cautious note. At 9:15 AM, the S&P BSE Sensex is trading at 26253, up 8.80 points, while NSE Nifty is trading at 8,088 up 0.90 points.

The markets open flat and on a cautious note. At 9:15 AM, the S&P BSE Sensex is trading at 26253, up 8.80 points, while NSE Nifty is trading at 8,088 up 0.90 points. Adani Ports, Tata Motors, M&M, Lupin, Bajaj Auto and Sun Pharma are top gainers while HDFC, Dr Reddy, Wipro, HDFC Bank, Axis Bank are losers in the Sensex.

Asian markets opened flat to mildly negative as results from the Italian referendum indicated a loss for the present Italian Prime Minister and sent the Euro plunging to a fresh 20 month low. Italian Prime Minister Matteo Renzi resigned following a heavy defeat in Sunday’s constitutional referendum. This will see Italian and European banks under pressure initially, however a large part of this move seemed already discounted by market participants. The US$ and bonds continue to hog the limelight as money chases US assets in the form of stocks, ETF's and fixed income.
Tokyo's benchmark Nikkei 225 index opened down 0.41%, or 76.16 points, at 18,349.92. Other Asian indices, overall mixed trading was observed, including Hong Kong’s Hang Seng (up 0.18%), South Korea’s Kospi (flat) and Taiwan’s TWSE (down 0.14%).
Investors may react to November US non-farm payroll data released on Friday by the US Labour Department. Data showed US unemployment rate fell to a 9-year low of 4.6% in November. US non-farm payrolls rose by 178,000 jobs in November against a rise by 142,000 in October, department said. It seems that the December Fed rate hike is going to happen.

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