Indian markets continue to soar

Similarly, the National Stock Exchange index Nifty was down by 17.75 points, or 0.21 per cent, to 8,171.95.

On similar lines, the NSE Nifty shed 22.90 points, or 0.28 per cent, at 8,120.70 points.

Meanwhile, the benchmark BSE Sensex is now down 175.40 points or 0.65% at 26,904.

“The domestic market is affected by headwinds from the mixed start to the Q2 results (Infosys), Bihar election and black money issue. Investors will also look at U.S. industrial production and CPI (consumer price index) numbers for further cues on the rate hike”, Agrawal added.

The equity market closed the week on a positive note, with a modest gain on favourable global cues, positive macro economic data and buying by foreign portfolio investors. Asian shares were largely higher and crude oil prices rose in early Asian deals while the dollar index rose slightly after coming under pressure recently in the wake of a slew of poor data.

The S&P Sensex of the Bombay Stock Exchange (BSE) was trading at 26,837.68 points losing 7.85 points around 11.15 AM.

Furthermore, the Indian rupee strengthened in the day’s trade. The gains were fueled by metal producers, energy companies and power utilities as global central banks show no desire to pull back on stimulus anytime soon. “However, volumes continue to remain thin suggesting lack of participation”, Shankar said. It slipped by 14.95 points. The broader market was mixed with BSE Midcap index lost 0.3% and SmallCap index gained 0.3%. Shares of TCS, country ” s largest software services firm, dropped by 3.92 percent to Rs 2,495.60 despite reporting a 16 percent surge in net profit to Rs 6,084.66 crore for the quarter ended September 30.

Other stocks from the auto space too perked up with Tata Motors rising by 1.72 per cent to Rs 387.25, followed by M&M 1.19 per cent, Bajaj Auto 0.42 per cent and Hero MotoCorp 0.88 per cent. Out of the 30-share Sensex, 20 ended higher.