Nifty opens below 8200, Sensex weak; Axis tanks 7% -- 28 Oct 2015

Axis Bank is down 7 percent while Vedanta, ICICI Bank, Lupin and ONGC are major losers in the Sensex. Gainers include GAIL, Maruti, Hindalco, SBI and HDFC.

                                       

The market has once again opened in negative terrian dragged majorly by banks. The Sensex is down 137.67 points or 0.5 percent at 27115.77 and the Nifty slips 47.35 points or 0.6 percent at 8185.55. About 286 shares have advanced, 197 shares declined, and 40 shares are unchanged. Axis Bank is down 7 percent while Vedanta, ICICI Bank, Lupin and ONGC are major losers in the Sensex. Gainers include GAIL, Maruti, Hindalco, SBI and HDFC. The Indian rupee has opened lower. It has slipped 10 paise at 65.07 per dollar versus 64.97 Tuesday. Pramit Brahmbhatt of Veracity said, "We expect the rupee to depreciate today. We see the range for the rupee between 64.60-65.40/dollar." The dollar held firm against a basket of currencies as traders await the Fed's decision on whether to raise interest rates by year-end amid evidence the US economy has slowed in recent weeks. The Nasdaq composite erased early gains to close down 0.1 percent as Apple slipped more than half a percent. The Dow Jones Industrial Average shed 0.2 percent, weighed by IBM's 4 percent fall after the firm disclosed the SEC is conducting an investigation into its accounting treatment of certain transactions. The S&P 500 closed 0.3 percent lower, weighed by energy stocks amid declines in oil. Asian markets have opened up mixed this morning on the back of a weak overnight handover. Nikkei though has bounced back on hopes of further stimulus from Bank of Japan as they await the outcome due later this week. Weakness in crude continues with the Nymex Crude trading at a 2-month lows on the persistent global supply glut ahead of US data expected to show another increase in crude inventories.

For More Detail Visit -- http://allianceresearch.in/
Or Call on - 9993716323, 0761-4032175