Markets Open in Green, Sensex Zooms 116 Points to 32,949, Nifty at 10,158
Mumbai, November 20: Key Indian equity domestic indices- BSE Sensex and NSE Nifty opened in red during early morning trade on Monday. Sensex was down by over 18 points or 0.06% at 33,324.04 while the wider Nifty was down at 10,283.05. The Indian rupee opened marginally higher at 64.97 per dollar on Monday against 65.01 on Friday. In the pre-opening session on Monday, Sensex was up over 100 points while Nifty topped 10,300 level.
At 12 Noon: Markets continued to trade in red during afternoon trade on Monday. BSE Sensex was down by over 3 points at 33,339.29 while the wider Nifty was down by over 4 points or 0.04% at 10,279.10. Shares of cement makers dropped up to 5 per cent in Monday’s trade. ACC was low by -1.88 %, ACC, Ambuja Cements -1.88 %, UltraTech Cement 1.53 % were some other cement stocks falling over 2 per cent each. Shares of IndusInd Bank and YES Bank traded higher on Monday after Asia Index on Friday said that both of these lenders will make an entry in the BSE’s benchmark index Sensex from December 18.
At 10.30 AM: Sensex and Nifty had a choppy start on Monday on weakness in IT and metal stocks after participants took profit amid sluggish global pointers. Sensex was down by over 27 points or 0.08% to 33,315.26 while the wider Nifty was down by over 16 points or 0.16% at 10,267.40.
On Friday, domestic equity market ended the week on a high buoyed by India’s ratings upgrade by global rating agency Moody’s where Sensex closed over 235 points or 0.71% at 33,342.80 and the wider Nifty ended over 68 points or 0.67% at 10,283.60. Cipla, ICICI Bank, HDFC, Tata Steel, State Bank of India, Sun Pharma and Tata Motors were the top gainers in the Sensex index. On the contrary, Infosys, Tata Consultancy Services, Wipro, Oil & Natural Gas Corporation and Asian Paints were among the top losers.
In the last week, markets ended on a mixed note with benchmark Sensex registering a modest rise of 28.24 points, end at 33,342.80, while Nifty closed with a minor loss of 38.15 points to conclude 10,283.60. The key benchmark indices declined in three out of five trading sessions of the week.
As per reports by PTI, the selling in the last week was triggered as posibility of the central bank cutting interest rates next month, dampened after India’s inflation picked up in October. Domestic investors turned cautious giving more weight to slowdown in IIP to 3.8 percent, bogged down by geopolitical tensions in the Middle-East and rally in crude oil prices.