01:20pm Gold declines
Gold dipped for a second session today, holding below USD 1,200 an ounce, as
outflows resumed from the top bullion exchange-traded fund and traders remained
cautious before an upcoming Swiss referendum on central bank bullion assets.
A weaker dollar after lacklustre US data, however, checked losses in gold
which is seen as a safe-haven asset.
Spot gold slipped 0.1 percent to USD 1,195.90 an ounce by 0253 GMT, but
trading is expected to be thin with the US markets closed for Thanksgiving.
The metal dipped 0.3 percent on Wednesday as bearish market sentiment offset
a drop in the US dollar, reports Reuters.
01:00pm Market Check
The 50-share NSE Nifty continued to hover around 8470 level, down 7.45
points to 8468.30 on the day of expiry of November derivative contracts. The
30-share BSE Sensex fell 34.99 points to 28351.20.
The BSE Midcap and Smallcap indices gained 0.4 percent and 0.5 percent, respectively.
About 1416 shares advanced while 1276 shares declined on the Bombay Stock
Exchange.
It is time for retail investors to increase exposure to equities as the
economy is likely to see a structural improvement over the next 2-3 years,
feels Krishna Kumar Karwa, Managing Director, Emkay Global.
He says investors should invest regularly and not try to time the market.
Aluminium major Hindalco Industries topped the buying list, up 4 percent
followed by Infosys, Hindustan Unilever, Sun Pharma, Mahindra & Mahindra
and BHEL with 1-2 percent gain.
However, Shares of ITC, HDFC, Tata Motors, Bharti Airtel and Sesa Sterlite
saw selling pressure, down 1-2 percent. L&T, HDFC Bank, Axis Bank, Reliance
Industries and State Bank of India fell marginally.
Among midcaps, Motilal Oswal, Kalpataru Power, Jet Airways, Gujarat State
Petronet and Strides Arcolab rallied 4-12 percent while Crompton Greaves, Anant
Raj, Sundaram-Clayton, HCC and Gujarat Pipavav slipped 2.5-5 percent. More
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