After a firm start of the October Futures and Options (F&O) series, the market has started to wobble. The Sensex is down 27.19 points or 0.1 percent at 27800.34, and the Nifty is down 8.25 points or 0.1 percent at 8583.00. About 1382 shares have advanced, 543 shares declined, and 97 shares are unchanged.
GAIL, Infosys, Wipro, BHEL and ONGC are top gainers while Adani Ports, Cipla, Bharti AIrtel, Dr Reddy’s Labs and HUL are major losers in the Sensex.
The Finance Ministry has exuded confidence that currency and stock markets, which tumbled following the surgical strike, will stabilise in the next few days and decisive action against terrorism will spur growth.
“The markets including the currency markets, the stock market they will stabilise in a matter of a very very few days,” Economic Affairs Secretary Shaktikanta Das.
Oil prices dropped on profit-taking, after rising 7 percent in the past two sessions, amid doubts that OPEC’s first planned output cut in eight years would make a substantial dent in the global crude glut.
Both Brent and NYMEX crude are on course for a weekly gain of around 7 percent.