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Thursday, 28 July 2016

Nifty hovers around 8,600 mark

The BSE Sensex opened 84.45 point up at 28108.78, while nifty 50 index opened 21.15 point up at 8,636.95 Investors will also eye developments at bank of japan and speculate on how much stimluse would be pumped in to resce the ailing economy.the chances of GST getting passed in parliament increased after the government chose to drop the 1pc manufacturing tax. States may comfort with the compenstion offered for any revenue loss in the first five years of rollout.

The S&P BSE Sensex is trading at 28,107 up 83 points, while NSE  Nifty is trading at 8,637 up 22 points.
The BSE  Mid-cap index is trading up 0.4% at 12,5565, whereas BSE smal-cap Index is trading up 0.80% at 12,306.
Asian paints,Maruti Suzuki, coal india, power Grid,Bajaj Auto and ITC are among the gainers.  whereas Infosys, L&T, Wipro, HUL, HDFC and Tata Motors are losing sheen on BSE.
Some buying activity is seen in realty,telecom, consumer discretionary ,industrial and consumer durables sector, while IT, capital goods and tech showing weakness on BSE.
The INDIA VIX is down 1.03%at 15.2675.out of 1,836 stock traded on the NSE ,438 
declined,1,042 advanced and 356 remained unchanged today
A total of 54 stocks registered a fresh 52-week high in trades today ,while 12 stock touched a new 52 week  low on the nse.

Asian markets are trading mixed. In Japan, the Nikkei 225 dropped 0.7%. Hong Kong's Hang Seng is trading in red.

US stocks closed mixed Wednesday. The US Fed kept interest rates unchanged. Dow Jones Industrial Average was near flat at 18,472.17 points. The S&P 500 index closed 0.12% lower at 2,166.58 points, while the Nasdaq Composite was up 0.58% at 5,139.81 points.

The Union cabinet has increased the foreign shareholding limit in Indian stock exchanges from 5% to 15%, as announced in the budget, bringing investments by foreign entities on par with those by domestic institutions.

Also, the cabinet approved key changes to the Constitution amendment bill for goods and services tax (GST), doing away with 1% additional levy on supply of goods, and proposing full compensation to states for five years for revenue loss arising from transition to GST.