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Ami Organics, Vijaya to list on D-Street today
Dalal Street will attend the listing of shares of Ami Organics and Vijaya Diagnostic Center today. Ami Organics’ Rs 570 crore IPO was subscribed 64.54 times and the company sold its shares in the price range of Rs 603 to 610 per share. Vijaya Diagnostic’s Rs 1,895 crore IPO received 4.54 times the subscription for a price range of Rs 522-531.
SGX Nifty signs a positive start
Shrewd futures on the Singapore Stock Exchange traded 56 points, or 0.32%, up to 17,431, signaling that Dalal Street was heading for a positive start on Tuesday.
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Technical view: Nifty50 support seen at level 17,250
Nifty50 formed a Doji candle on the daily chart on Monday, suggesting indecisiveness among market participants. Analysts said a consolidation of the index was underway, as evidenced by the tight trading range of the past five sessions. A fall below the 17,250 level can trigger weakness, they warned, adding that a breach of the 17,400-450 range would give the bulls the edge.
Dollar index edged down ahead of US inflation data
The dollar was little changed against other major currencies on Tuesday, as investors looked to US inflation data later in the session for clues as to the timing of the Federal Reserve’s policy tightening. The dollar index stood at 92.622, after declining from a two-week high of 92.887 reached on Monday, while the euro changed hands at $ 1.18105, after rebounding from the low of Monday at $ 1.17705, its lowest since August 27.
Hong Kong stocks start with gains
Hong Kong stocks started Tuesday morning on a calm note after the previous day’s sell-off and following a positive advance from Wall Street. The Hang Seng Index edged up 0.05%, or 13.05 points, to 25,826.86. The Shanghai Composite Index slipped 0.13%, or 4.74 points, to 3,710.64, while the Shenzhen Composite Index on China’s Second Stock Exchange barely moved, advancing 0.20 points at 2,501.03.
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Japanese stocks open higher on hopes of new government
Tokyo shares opened higher on Tuesday as investors remained bullish on a new government in Japan ahead of a ruling party leadership vote this month. The benchmark Nikkei 225 index rose 0.42%, or 127.18 points, to 30,574.55 at the start of the session, while the broader Topix index rose 0.39%, or 8, 08 points, at 2,105.79.
US stocks closed largely higher
A wave of buying late in the afternoon helped stock indexes close largely higher on Wall Street on Monday, ending a five-day losing streak for the S & P500 index. The index rose 10.15 points to 4,468.73. Despite its pullback last week and modest gain on Monday, the index remains just 1.5% below the all-time high it set on September 2. The Dow Jones Industrial Average rose 261.91 points, or 0.8%, to 34,869.63, while the Nasdaq slipped 9.91 points. , or 0.1%, to 15,105.58.
Rupee dips to 2-week low at 73.68 against the dollar
The Indian rupee fell 18 paise to a two-week low of 73.68 against the US dollar on Monday, following weaker Asian peers against the greenback and a moderate trend in domestic stocks. In the interbank forex market, the local currency opened at 73.63 and fell to a low of 73.73 during the day. Domestic unit eventually settled at 73.68 against the greenback, down 18 paise from its previous close.
Sensex, owl on Monday
The Sensex and Nifty closed with modest losses on Monday, under pressure from market heavyweight Reliance Industries which slipped after delaying the launch of its low-cost smartphone. The depreciation of the rupee has further sapped risk appetite, traders said. The 30-stock BSE Sensex finished 127.31 points, or 0.22% lower, at 58,177.76. The larger NSE Nifty fell 13.95 points or 0.08 percent to 17,355.30.