Indian ADRs ended mixed on Thursday. In the IT space, Infosys gained 0.72 percent at USD 16.65 and Wipro was up 0.22 percent at USD 9.91. In the banking space, ICICI Bank fell 0.22 percent at USD 7.15 and HDFC Bank shed 0.48 percent at USD 71.52. In the other sectors, Tata Motors declined 0.96 percent at USD 40.49 and Dr Reddy’s Laboratories gained 0.31 percent at USD 45.82.
The market is quite volatile reacting to Infosys September results. The Sensex is down 24.84 points at 27618.27, and the Nifty down 8.45 points at 8564.90. About 1086 shares have advanced, 675 shares declined, and 86 shares are unchanged.
Share Market Tips: Infosys is down 3 percent on lower guidance while TCS is up 1 percent. HUL, Lupin, Bharti and HDFC are losers in the Sensex. GAIL, ONGC, Reliance, L&T and Adani Ports are top gainers in the Sensex.
Infosys Q2 profit up 5%; cuts FY17 revenue guidance to 8-9%
Gold edged higher as the dollar declined and after world shares slipped following renewed worries about China’s economy. Gold trading range for the day is 29569-29955. Some investors switched to gold as world stock markets stumbled to three-week lows following September trade data from China. SPDR gold trust holdings gained by 0.28% i.e. 2.67 tonnes to 961.57 tonnes from 958.90 tonnes.
Silver prices edged lower as stocks firmed and the U.S. dollar rose on expectations the Federal Reserve would raise interest rates by year-end. Silver trading range for the day is 41498-42596. BUY SILVER DEC ABV 42000 SL 41700 TGT 42380-42640.
Crude oil prices gained after a U.S. government report showing hefty draws in diesel and gasoline offset the first crude inventory build in six weeks. Crudeoil trading range for the day is 3269-3433. BUY CRUDE OIL OCT @ 3330 SL 3290 TGT 3380-3420.