Sensex Today: Sensex, Nifty end flat with positive bias; DHFL rises 10%

Asian Shares Weaken

Asian shares fell on early Wednesday as U.S.-China trade truce was overtaken by fresh concerns over Washington threat of tariffs on additional European goods.

OIl price rises

Oil prices edged higher on Wednesday after a steep fall in the previous session, supported by extended output cuts by OPEC and its allies despite concerns that a slowing global economy could crimp demand.

Economic Survey on 4th July

Union Budget scheduled on 5th July

Nirmala Sitharaman will present the first Budget of second term of the Modi government on July 5.

Pre Opening Session

BSE S&P Sensex started today at 39,934, up by 118.43 points or 0.30% and NSE Nifty50 at the pre open session, begun at 11,910.30 level, at a gain of 44.70 points 0.38%

Rupee opens stronger

Rupee opens stronger compared to previous day's close, at 68.85 against the dollar. Yesterday Rupee closed at 68.92 against the dollar.

OPEC inks new charter with Russia & allies

The OPEC bloc of oil producers on Tuesday formally signed a new charter of cooperation with major allies including Russia, one day after thrashing out the document at a marathon meeting.The new agreement between OPEC and its so-called OPEC+ partners is being seen as a sign of the cartel's efforts to stay relevant in a market which has been transformed by booming US shale oil output.

US-China trade talks 'back on track'

US-China trade negotiations are now headed in a positive direction following this weekend's meeting between President Donald Trump and his Chinese counterpart Xi Jinping, a top White House aide said Tuesday.

Global Market Update

US has raised another concern of trade war between US-Europe. US has proposed $4bn tariff on European region. US stocks managed modest gains with S&P 500 closing at a record high. US Future declined 0.3%Asian markets opened on a negative note with Hong Kong, Nikkei and China Index slipping half a percent. Although SGX Nifty was up 14 pts or 0.12% in the early trade on Singapore Exchange.

Opening Session

Sensex Today LIVE : Benchmark indices Sensex and Nifty opened marginally positive on Wednesday, buoyed over hopes from the Union Budget outcome, scheduled for July 5, 2019, despite weak Asian peers. Sensex opened at 39,907.57 against yesterday's close of Rs 39,816.48, while Nifty50 started today's trade at 11,932.15 against yesterday's close of 11,913.

OMCs top index gainers after falling crude prices

Oil Marketing Companies (OMC) were among top gainers in the early session on Wednesday, backed by falling crude oil prices. While Nifty Energy was up 0.36%, backed by buying pressure OMCs like Hind Petroleum was up 1.66%, followed NTPC, BPACL, IOC, gaining at the range of 0.80-0.90%.

FII and DII

On a net basis, foreign institutional investors sold equities worth Rs 512 crore, while domestic institutional investors purchased shares to the tune of Rs 141.09 crore, provisional data available with stock exchanges showed Tuesday.

Gainers/ Losers

Top gainers in the Sensex pack in early trade included Yes Bank, IndusInd Bank, Asian Paints, M&M, Axis Bank, NTPC and PowerGrid, while Vedanta, ONGC, HDFC, Tata Steel, ITC, TCS and HUL fell th emost in the early trading session.

India VIX

India VIX has cooled down and moved to 14, at a loss of 1% over yesterday, depicting low volatility in the market.

Sector-wise Update

Sectorally, Auto, IT, Metal and Pharma stocks are trading lower in today's trade, while highest gains were seen in PSU bank stocks, pressuring the index to a 0.75% growth, followed by 0.60% gain each in Infra, Media and Realty stocks.

Morgan Stanley cuts long-term Brent price view

Experts Opinion

On a weekly note, relative to commentary on the pre budget market expectations,  Jimeet Modi, Founder & CEO, SAMCO Securities & StockNote, stated, "The lackluster vibe before the Budget can be the calm before the storm and markets are expected to remain muted and sideways but there is likelihood of downward pressure. The auto sector is at the tipping point. Depending on how the Government provides support, these stocks will either revive or fall off the cliff. Other sectors which are likely to benefit from the Budget would clearly be low cost housing, agriculture and infrastructure as the Government knows very well the multiplier effect to attain the growth and employment targets. Investors should still follow a wait and watch approach. "

PMI contracts for June month

The Nikkei/IHS Markit Services Purchasing Managers' Index fell to 49.6 last month from 50.2 in May, sliding below the 50-mark threshold that separates contraction from growth after remaining in expansion territory for the previous 12 months.

Read more: India's dominant services activity contracts in June for first time in more than a year

Tata Communications falls 4%

Shares of Tata Communications fell over 4% intraday as the firm disclosed to the exchanges about resignation of Managing Director & Group CEO, Vinod Kumar.The share price of Tata Communications opened at Rs 475 against the previous close of Rs 474.75 and further dropped 4.16% to day's low of Rs 455 on the BSE platform. The stock is trading lower than 5, 20, 50, 100 and 200-day moving average.

Market Update

Sensex Today LIVE : Benchmark indices Sensex and Nifty are trading marginally positive on Wednesday, buoyed over hopes from the Union Budget outcome, scheduled for July 5, 2019, amid weak Asian peers. Sensex is trading at 39,871 with a gain of 50 points against yesterday's close of 39,816.48, while Nifty50 in today's trade stands at 11,925, up by 15 points against last close of 11,913.