Live Stock Market News ; Sensex recovers from Rajan's exit news, rupee under pressure

As expected the Indian stock markets opened the week on a bearish note with the rupee tanking nearly 1%, sensex down about 0.6% and government bond yields hardening 3-4 paise, but the recovery in the stock marker was quick, although rupee struggled. Get Live market updates trading tips on www.marketmagnify.com or for current market updates just give Missed Call @78-79-88-11-22

After opening about 150 points lower at 26,476, on the RBI governor Raghuram Rajan's decision on Saturday to not seek another term after his current one ends in early September, the index recovered and at 1015IST, it was up 65 points at 26,691.

Indian Rupee, however, was still in the red, trading at 67.54 to the dollar, weaker by about 50 paise from its Friday close. In the bond market, the benchmark yield on the 10-year government bond was at 7.53%, up from 7.50% on Friday. 

The Indian market is still making steady gains after knee-jerk reaction to Reserve Bank of India's governor Raghuram Rajan not continuing for second term. The Nifty is below 8200-mark, up 14 points or 0.2 percent at 8184.20. 

The Sensex is up 66.11 points or 0.2 percent at 26692.02. Infosys, L&T, TCS, Hero MotoCorp and ONGC are top gainers while Axis Bank, Asain Paints, Lupin, ICICI Bank and Coal India are losers in the Sensex. 

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The S&P BSE Sensex is trading at 23,624 down by 135 points, while NSE Nifty is trading at 7,174 down 42 points.

The BSE Mid-cap Index is trading down by 0.64% at 9,954. whereas BSE Small-cap Index is trading down by 0.45% at 10,231.

The INDIA VIX is up by 1.41% at 22.7825. Out of 1,741 stocks traded on the NSE, 906 declined, 307 advanced and 235 remained unchanged today.

A total of three stocks registered a fresh 52-week high in trades today, while 73 stocks touched a new 52-week low on the NSE.

Indian Rupee opened weaker by 10 paise at 67.95/$ in early trade on Thursday as against the previous close of 67.85/$.

Asian markets are playing catch up on the downside as they opened after a break.

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Sensex crashes 300 points; Nifty falls below 7,300

The S&P BSE Sensex is trading at 23,988 down 298 points, while NSE Nifty is trading at 7,298 down 89 points.

The BSE Mid-cap Index is trading down 0.72% at 10,236, whereas BSE Small-cap Index is trading down 0.91% at 10,471.

Indian Rupee opened at 68.14/$, down by 20 paise in early trade on Tuesday as against the previous close of 67.94/$.

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The outlook is a negative open. Investors will hope the Tuesday twist comes into play and indices recoup their losses towards the end of the session. Global markets will have to lend support. Investors will be looking forward to comments from the Federal Reserve Chairperson Janet Yellen today and on Thursday, when she testifies before the Congress about the economy and monetary policy. "Key results include Apollo Tyres, Aurobindo Pharma, Bharat Forge, Britannia, CESC, Dr Reddy’s Lab, Geometric, GMDC, Gulf Oil, Hindalco Industries, MOIL, Motherson Sumi, SAIL, Ramco Cement and Timken India."

Rural Electrification Corporation (REC) and Power Finance Corp (PFC) may buy Government's shares in state-owned NHPC, according to reports.

Shares of Digital marketing firm Lycos Internet zoomed 7.1% to Rs.29.30 on BSE on news that it will acquire 100% stake in Austria-based mobile solutions provider TriTelA Gmbh in an all-stock transaction giving it access to cloud-based technology that can help broaden its consumer services.

The Government has asked public sector companies to buy back shares in order to contain the fiscal deficit without cutting stimulus spending, according to reports.