Indian indices opened with a downtrend on Monday morning with auto and banking stocks becoming the losing stocks. One key trigger is the GST meeting unable to reach a consensus on the roll out. There is a possibility that the government might fail to meet its April 1, 2017 deadline. In addition, the weak Index of Industrial Production data, which was released last Friday, stated the overall industrial output has reduced by 1.9% in October.
The BSE Sensex is trading at 26595 down 151 points, while NSE Nifty is trading at 8,204 down 57 points. A total of 22 stocks registered a fresh 52-week high in trade today, while 810 stocks touched a new 52-week low on the NSE. Currently 897 shares have advanced, 1108 shares have declined and 96 shares are unchanged on the BSE.
All BSE sectors are trading with negative leads. The BSE Mid-cap declined 35 points to 12284, Small cap dropped 91 points to 12443 and Bank Nifty lost 153 points to 18542.
Asian market Updates: japan's index Nikkei 225 hiked 128 points at 19124.62, Hong Kong's index Hang Seng slipped 255 points to 22505 and China's index Shanghai Composite dropped 65 points to 3167.
Recommendation By Expert
Sell Bajaj Auto Ltd at below: 2665.14 Targets: 2666.00 - 2670.71 - 2668.80 - 2663.07
Stop loss : 2678.06
Buy State Bank of India at above: 268.14 Targets: 266.60 - 267.90 - 269.42 - 270.62
Stop loss : 264.06
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