HAPPY NEW YEAR VIEWERS!!! LET’S WELCOME THE NEW YEAR WITH GOOD THOUGHTS AND A BRIGHT SMILE.
The first day of 2018, let’s see how the stock market fared with this current update.
9:30 am Buzzing Stock: Shares of Allahabad Bank were up almost 5 percent intraday on Monday as the bank raised Rs 500 crore.
In a notification to the exchanges, the bank said that it raised the money through a private placement of Additional Tier 1 (AT 1) perpetual bonds.
The fundraising has been done in a bid to comply with global banking standards under Basel – III norms.
9:15 am Market Opens: Benchmark indices began the New Year on a flat note, but the midcaps were trading higher and outperforming the benchmarks in the opening tick.
At 09:16 hrs IST, the Sensex is up 11.14 points at 34067.97, while the Nifty was down 11.40 points or 0.11% at 10519.30. The market breadth was positive as 576 shares advanced against a decline of 178 shares, while 2,878 shares were unchanged.
Among stocks, State Bank of India (SBI), L&T, Hero MotoCorp, and GAIL were the top gainers, while HUL, Wipro, and Infosys were the top losers.
In the currency space, Indian rupee opened marginally higher at 63.84 per dollar on Monday versus 63.87 Friday.
Pramit Brahmbhatt of Veracity said, “The rupee will trade on a flat note. We expect the spot USD-INR pair to trade in a range of 63.50-64.”
According to Ajay Manglunia of Edelweiss, the volatility in the bond markets is expected to persist over the next few sessions.”
IN SHORT
The stock market opened flat on the first day of 2018, with the Sensex opening 13.23 points up at 34,070.06; and the Nifty trading at 10,524.15.
The Indian Rupee opened marginally higher at 63.84 against the dollar, as compared to 63.87 on Friday.
However, the market breadth was positive as 576 shares advanced against a decline of 178 shares. 2,878 shares were unchanged.
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