Sensex opens on a flat note 09/09/2016 09:27

Sensex opens on a flat note 09/09/2016 09:27

NIFTY Fut               : SELL ZONE
BANKNIFTY FUT : SELL ZONE


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Indian equity benchmarks opened little changed on Friday as traders remained on the sidelines amid uncertainty over the outlook of monetary policies in key global economies after the European Central Bank (ECB) refrained from fresh stimulus on Thursday. Investors are also awaiting key macro data which will offer further cues over the health of Asia’s third biggest economy.

At 9:08AM, the BSE SENSEX was at 29,062.9 up by 17.62 points or by 0.06 per cent and the NSE Nifty was at 8,952.5 up by 34.55 points or by 0.39 per cent. The BSE Sensex touched intraday high of 29,062.9 and intraday low of 29,062.9 The NSE Nifty touched intraday high of 8,960.35 and intraday low of 8,896.

Caution ahead of the industrial output data for July also weighed on sentiment at Dalal Street. India’s industrial production expanded by 2.1 per cent, year-on-year in June 2016. Analysts expect industrial output to have risen 1.37 per cent in July 2016 from the year ago. Consumer inflation may have eased to 5.3 per cent in August 2016 from 6.07 per cent in July 2016.

Sector-wise, Healthcare and Teck rose 0.28 per cent 0.20 per cent, respectively.

Asian stocks rose even as the ECB downplayed the prospect of a boost in asset purchases despite heightened uncertainty surrounding the Euro area economy which could be severely hit by Britain’s exit from the EU. Shanghai Composite was tad higher as China’s factory-gate prices fell 0.8 per cent in August 2016, year-on-year while consumer inflation at 1.3 per cent was subdued. Hang Seng rose and Japan’s Nikkei 225 rebounded despite the ECB’s decision to refrain from committing to further stimulus while speculation that North Korea conducted a nuclear test spurred geopolitical worries, keeping gains in check.

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