Sunday, 31 December 2017

SENSEX, Nifty Open Flat on First Day of New Year; Midcaps Outperform | Today Stock Market Outlook 01 JAN 2018.

began the New Year on a flat note, but the midcaps were trading higher and outperforming the benchmarks in the opening tick.

At 09:16 hrs IST, the Sensex is up 11.14 points at 34067.97, while the Nifty was down 11.40 points or 0.11% at 10519.30. The market breadth was positive as 576 shares advanced against a decline of 178 shares, while 2,878 shares were unchanged.

Among stocks, State Bank of India (SBI), L&T, Hero MotoCorp and GAIL were the top gainers, while HUL, Wipro and Infosys were the top losers.

In the currency space, Indian rupee opened marginally higher at 63.84 per dollar on Monday versus 63.87 Friday.

Pramit Brahmbhatt of Veracity said, "The rupee will trade on a flat note. We expect the spot USD-INR pair to trade in a range of 63.50-64."

According to Ajay Manglunia of Edelweiss, the volatility in the bond markets is expected to persist over the next few sessions."

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