Mid-market commentary: September 9, 2016

Indian capital markets opened lower tracking the global markets scenario. BSE Sensex is down 275 points or 0.95 per cent at 28769, and the Nifty has declined 86 points or 0.94 per cent at 8869. Nifty was not able to sustain 8900 levels. About 969 shares have advanced, 1514 shares declined, and 157 shares are unchanged. On the sectoral front, all are trading in red except Oil &Gas, Healthcare and IT.

Meanwhile, Asian markets are trending in the mix on Friday. Shanghai is down by 0.55 per cent, Nikkei is flat and Hang Seng rose by 0.88 per cent on an intraday basis. European indices have started with negative sentiments. DAX has declined by 0.44 per cent and CAC 40 has reduced by 0.39 per cent. FTSE also dropped by 0.33 per cent.

The WTI crude oil declined by 1.07 per cent to USD 47.11 and Brent Crude Oil also reduced by 1.2 per cent to USD 49.39.

Stocks to watch:

Dilip Buildcon: Dilip Buildcon has received LOI for OB Removal work at Khairagura OCP, BPA Area of Telangana Coal Mine Project for a period of 36 months.

JSW Steel: JSW Steel’s crude steel production stands at 1.35 million tons in August 2016.

Quess Corp: Quess Corp and Nettur Technical Training Foundation (NTTF) have tied up for the Neem Program.

Kaya: Kaya Middle East, DMCC, a foreign subsidiary of Kaya has entered into an agreement for acquiring 75 per cent beneficial interest in Minal Medical Centre, Dubai and Minal Specialised Clinic Dermatology, Sharjah.

IDBI Bank: As per media reports, Asian Development Bank is in race to buy about 10 to 15 per cent stake in the public sector lender, IDBI Bank.