Markets trade flat; Nifty holds 8400, Elite Investment Advisory Services

Indian share markets indices opened on Thursday in red amid mixed cues in Asian markets and investors vigilant on the corporate earnings season continues. At 10:15 am, the BSE Sensex was trading at 27,251, down 0.02% percent, while the broader Nifty50 was ruling at 8,410, down 0.08% percent. Broader markets outperformed benchmark indices with BSE Midcap and BSE Smallcap rising 0.17% and 0.10% respectively. 

The dollar index progressed by comments from Federal Reserve Chair Janet Yellen. The rupee is trading at 67.94 to the US dollar. Sectoral indices have opened today with oil & gas stocks witnessing maximum buying interest, while realty & banking stocks have opened the day in red.

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Indian Rupee rebounds in Green, Elite Investment Advisory Service

The Indian rupee recovered in early trades today, 3 January 2017 on fresh selling of the US currency by banks and exporters. Further, dollar's weak spot against other foreign currencies and a higher opening in the domestic equity market supported the rupee. 

The domestic currency opened at Rs 68.11 against the US dollar and marked an intraday high of Rs. 68.13 and a low of 68.05 during the day. In the spot currency market, the Indian unit was last traded at 68.07. On 2 January, the domestic currency had lost 30 paise to 68.22 against the US dollar due to a massive demand for the American currency. 

In the meantime, January rupee futures have gained 14 paise at 68.23/ dollar. On the national Stock Exchange (NSE), the counter has witnessed trades of around 1,82,689 contracts, while the open interest has increased 0.4% .

Gold ends 2017 on a steady note, Silver declines price - 2 Jan 2017

The prices of Gold ended steady at Rs 28,300 per 10 grams on the first trading day of 2017 on scattered demand from local jewellers, in absence of cues from global markets which are closed today. However, silver weakened by Rs 100 to Rs 39,300 per kg on account of reduced off-take by industrial units. 

In Delhi, gold of 99.9% purity ruled flat at Rs 28,300 and 99.5% purity ruled at Rs 28,150 per 10 grams. It had lost Rs 200 on the last trading session of 2016 on Saturday. Sovereign was traded at last level of Rs 24,000 per piece of eight grams in limited deals. 

Alternatively, silver ready drifted lower by Rs 100 to Rs 39,300 per kg, while weekly-based delivery rose by Rs 495 to Rs 39,195 per kg. Silver coins held steady at Rs 70,000 for buying and Rs 71,000 for selling of 100 pieces.