The stock market is showing in red mark on the second trading day of the week. The Bombay Stock Exchange (BSE) Sensex lost 14 points to open at 40,788. On the other hand, the National Stock Exchange (NSE) Nifty opened with a gain of 19 points at 12,067.65, but later it also went up. By 10 am, the Nifty had lost about 32 points.
The BSE saw a spurt in 363 shares and a decline of 212 shares at the start of trading. Prominent stocks to rise include Biocon, Yes Bank, Bharti Airtel, Bajaj Auto, SBI, Kotak Mahindra Bank, M&M, while the falling stocks include Hindalco, Grasim, Vodafone Idea and Motherson Sumi. Apart from auto, all other sectors are trading with a slight decline. Business is flat in BSE Midcap and Smallcap.
The rupee traded moderately on Tuesday and opened at 71.70 against the dollar. The rupee closed at 71.66 on Monday.
Significantly, there was a lot of volatility in the trading of the stock market on Monday, after which the BSE Sensex finally closed at 40,802.17 with a strength of 8.36 points. On the other hand, the Nifty of the National Stock Exchange had closed at 12048, down by about 8 points.
NSE, BSE have suspended Karvy's broking membership. Karvy has been barred from trading in all segments of equity, derivatives and commodities. This action has been taken on Karvy in the case of fraud of Rs 2,300 crore of customers.
In the country's stock market, investors will be keeping an eye on the monetary policy review meeting of the Reserve Bank of India (RBI) this week. Apart from this, key economic data will play an important role in deciding the market.
Investors' morale was broken due to poor GDP figures last week in the domestic stock market, due to which the last session of the week fell and its effect will be seen on the market this week too.
At the same time, in the international market, the price of crude oil, rupee move against the dollar, including the major economic data released during the week will also be affected. Sales of auto companies have fallen again in November after some improvement in the festive season.
The bi-monthly review meeting of RBI's Monetary Policy Committee (MPC) is starting on Tuesday, the results of which will come on Thursday. In this meeting, the RBI can take a decision on the key interest rate cut again.
