Indian, Overseas Market, Overview at a Glance

Indian stock market today is watchful ahead of the US Federal Reserve's Monetary Policy meet being scheduled today. Also, the domestic CPI (Consumer Price Inflation data) will be released today. Auto segment, Consumer Durables and Oil & Gas sectors are also seeing some traction in the morning session of trading. Asian markets are also opened flat.

A sharp rally in crude pooled with US 10 year bond yields crossing 2.5 percent witnessed a weakness, that creep into the emerging markets. Asian indexes were mixed tracking weak cues from the US, as investors chose to expect the result of the US Federal Reserve's monetary policy statement. Japanese shares down since investors took profits after a recent rally that had taken shares to their highest level in a year.

At 12:40, the S&P BSE Sensex is trading at 26599 up 84.13 points (+0.32%), while NSE Nifty is trading at 8,186.50 up 15.70 points (+0.19%). An active buying activity is seen in Auto, Consumer Durables, Oil & Gas sectors, whereas Metal, Bank, Realty, Finance, Pharma are showing slackness on BSE. Tata Motors said it will increase the prices of its passenger vehicles by up to Rs 25,000 from next month so as to compensate the increased input costs.

A generic Tamiflu capsules was launched by Natco Pharma, the drug is used for the treatment of influenza, in the American market after the final approval from the US health regulator in Aug 2016. Sun Pharma and Moebius Medical have come into an exclusive worldwide licensing contract to further develop MM-II, a novel pharmaceutical drug for the treatment of pain in osteoarthritis.

GAIL India Limited has won a second extension for completing the Cochin-Bangalore-Mangalore natural gas pipeline since it faces unprecedented troubles in getting land in Tamil Nadu and Kerala.

Equity Benchmarks Moving Up, Midcap Sectors Outperform

Equity benchmarks are continue climbing up. Sensex has jumped up 169 points at 26519 while Nifty is up 54 points at 8181. Smallcap-Midcap sectors are outperforming today. BSE SmallCap is 144 points high at 12251, BSE Midcap has hiked 97 points at 12399. Yet 1669 shares have advanced, 580 shares have declined and 125 shares are still unchanged.

Asian Market Updates: After two consecutive days rally, global indices have fell down today. Nikkei is 38 points down at 18318, Hong Kong's Hang Seng has lost 61 points at 22768 and Taiwan Index with minor loss of 29 points at 9192.

Pharma stocks are underperforming while auto sector is gaining. Idea Cellular, Eicher Motors, Maruti Suzuki, M&M and GAIL are the gainers of Nifty while Sun Pharma, BPCL, HUL, Lupin and Hindalco are losers of Nifty.

Bear Hitting Hardly, Sensex Nifty Under Pressure

After a poor opening in the morning, bear struck down the Indian stock market in the mid noon session, where equity benchmark indices have already dropped more than 1%. Currently, Sensex is live at 25823.65 with the loss of 326.59 points and Nifty is live at 7957.70 with the loss of 116.40 points. About six shares have declined on the rise of a single share in the BSE. The broader market has lost around 2.5%, where Banking, Auto, Metals and Small Cap sectors are down more than 2.65% each, while IT and TECk sectors are still holding the positive leads. At Present, Wipro, TCS, Infosys and HUL are the top gainers, while Bank of Baroda, Adani ports, Eicher Motors, SBI and Tata Motors(D) are top losers in BSE. 

In global market, European and American market are trading poorly, while Asian market seems to have both positive and negative trend. In Asian market, Japan's index Nikkei is trading at 18106.02 with the loss of 138.61 points and Singapore's Index Strait Times is trading at 2827 with the loss of 11.60 points.