Tuesday 3 October 2017

SENSEX ,NIFTY OPEN FLAT AS STREET AWAITS CUES FROM RBI MPC MEET | TODAY STOCK MARKET OVERVIEW 04 OCT 2017.

MARKET LEVELS UPDATE
SENSEX (4th OCT 2017) Trend : up Preopening Price : 31522.17 Gap up : 24.79 ( 0.08%) Support : 31300 -31700 Resistance: 32200 - 32550

NIFTY (4th OCT 2017) Trend : up Preopening Price : 9884.30 Gap up: 24.80 ( 0.25%) Support : 9825 - 9875 Resistance : 10080- 10200 

BANK NIFTY (4th OCT 2017) Trend : up Preopening Price: 24124.15 Gap up : 20.75 ( 0.09%) Support : 24000-24350 Resistance :24750-25250

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Equity benchmark indices opened on a mildly positive note as the Street is seen waiting for the Reserve Bank of India’s MPC meet outcome later in the day.

The Sensex was up 23.25 points at 31520.63, while the Nifty was up 12.45 points at 9871.95. The market breadth was positive as 555 shares advanced against a decline of 186 shares, while 37 shares were unchanged.

Midcaps outperformed the frontline indices, while on the sectoral front, metals took a hit. Positive moves were seen in auto, FMCG and energy stocks.

ITC, Hero MotoCorp, HPCL and IOC were the top gainers, while Bajaj Auto, Tata Motors DVR and Coal India lost the most.

The Indian rupee opened higher by 14 paise at 65.36 per dollar on Wednesday versus previous close 65.50.

Pramit Brahmbhatt of Veracity said, "After consolidation, the rupee will trade with a neutral to negative bias. I expect the USD-INR pair to trade in a range of 65.20-65.80."

Dollar eased in trade as the rally triggered by strong US data fizzled on speculation that US president Donald Trump's choice for the next Fed chair may be a less hawkish candidate than previously thought.

In global markets, Asia is set for a mixed trading day on Wednesday, even after US equities closed higher overnight.

In Japan, the Nikkei 225 was up 0.23 percent at 20,662.48 in early trade and the Topix index advanced 0.1 percent.

US stocks closed higher on Tuesday, building on strong gains from their previous session.

The Dow Jones industrial average rose 84.07 points to 22,641.67, setting intraday and closing records, with 3M contributing the most to the gains. The 30-stock index also posted a five-day winning streak.

The S&P 500 finished 0.2 percent higher at 2,534.58 and notched a record close; it also rose for the sixth straight session. Airline stocks Delta and United Continental were the best performers in the S&P, advancing 6.6 percent and 6.1 percent, respectively.

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