The Bombay Stock Exchange (BSE) Sensex opened 40 points higher at 40,485 at the start of trading. However, the market slipped in a short time. By 9.27 am it had dropped by 103 points.
The stock market has opened on the green mark on the first trading day of the week. The Bombay Stock Exchange (BSE) Sensex opened 40 points higher at 40,485 at the start of trading. However, the market slipped in a short time. By 9.27 am, the Sensex had dropped by 103 points to reach 40342.
The National Stock Exchange (NSE) Nifty also gained 18 points to open at 11,939.10, but by 9.36 am the Nifty had also fallen 14 points to 11,907. In the initial phase, about 388 shares of BSE rose and 206 declined. Prominent stocks to rise were Zee Entertainment, Maruti Suzuki, Asian Paints, Hero Moto Corp and Tata Steel, while the leading losers included Vodafone Idea, Bharti Infratel, Wipro, Axis Bank, IndusInd Bank and ITC.
Softening in rupees
On Monday, the rupee was also seen softening. At the start of trading, the rupee opened at 71.29 against the dollar with a softening of 9 paise. The rupee was at 71.20 on Friday. On the other hand, the dollar saw strength. The dollar has strengthened due to the strength in the US job market.
On the last trading day of last week, the Sensex was down 334.44 points and closed at 40 thousand 445 points. The Nifty dropped by 96.90 points to 11,921.50. A round of selling was witnessed on Friday.
What needs to be kept watch this week
Along with the key economic data released this week in the Indian stock market, there may be a greater impact of foreign signals, especially investors waiting for the results of the meeting of the US central bank Federal Reserve. Apart from this, the progress of the trade agreement between the US and China will also be seen.
On the other hand, after the rise in crude oil in the international market last week, the price of oil and the movement of rupee against the dollar will be looked at by investors. Also, the current winter session of Parliament has ended on December 13, during which the market will be watching the political developments in the country.
During the week, the figures for industrial production in October will be released on Thursday and on the same day, the figures for retail inflation during November will also be released. On the next day, the data for wholesale inflation will be released on Friday. At the same time, many other figures will also be released, including the balance of trade for the month of November, which investors will be waiting for this week.
After the employment data came better than expected in the US last week, the Federal Reserve is likely to take a decision to maintain interest rate stability. This year the Fed has cut interest rates three times. The effect of the Fed’s decision will also be seen on the Indian market.