Market Live: Nifty consolidates; Indostar debuts with 5% premium, TCS & UltraTech top gainers. Asian markets traded higher as developments in US-China talks took positively by analysts.
Market Update: Benchmark indices are rangebound as investors shifted their focus from Karnataka to the movement in crude oil prices and rupee.
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The 30-share BSE Sensex was down 38.99 points at 34,809.31 and the 50-share NSE Nifty fell 20.30 points to 10,576.10.
About 1,203 shares declined against 764 advancing shares on the BSE.
About 1,203 shares declined against 764 advancing shares on the BSE.
Market Update: Benchmark indices continued to consolidate as investors after digesting the Karnataka government formation started focusing on corporate earnings, movement in crude oil prices and rupee.
The Sensex is inching towards 35,000 levels while the Nifty firmly traded above 10,600 levels while the Nifty Midcap index is off its early lows.
The Sensex was up 42.77 points at 34,891.07 and the Nifty gained 7.80 points at 10,604.20.
UltraTech Cement is top gainer among Nifty50 stocks, rising 2 percent but Century Textiles fell 5 percent after cement business deal.
Market Opening: Benchmark indices started off trade marginally higher, following the positive trend in Asian stocks. Investors digested final outcome of Karnataka election.
The Sensex was up 78.21 points at 34,926.51 and the Nifty gained 13.50 points at 10,609.90.
SBI gained 1.5 percent after Bhushan Steel-Tata Steel deal. ICICI Bank was up 1 percent.
UltraTech Cement was up 1.6 percent and Century Textiles fell 8 percent after cement business deal.
HPCL, TCS, Hindalco Industries, Coal India, Grasim Industries
Indiabulls Housing Finance, Bajaj Finance, Maruti, Infosys, Axis Bank, Wipro, ITC, Hero Motocorp and Sun Pharma were under pressure.
The Nifty Midcap index was down 55 points.
Kitex Garments plunged 16 percent post disappointing earnings. Amara Raja Batteries, Capcite Infra, Balaji Telefilms, Future Lifestyle, Thermax, Ashok Leyland, Strides Shasun, Crompton Consumer, and Inox Wind fell up to 5 percent.
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The Sensex is inching towards 35,000 levels while the Nifty firmly traded above 10,600 levels while the Nifty Midcap index is off its early lows.
The Sensex was up 42.77 points at 34,891.07 and the Nifty gained 7.80 points at 10,604.20.
UltraTech Cement is top gainer among Nifty50 stocks, rising 2 percent but Century Textiles fell 5 percent after cement business deal.
Market Opening: Benchmark indices started off trade marginally higher, following the positive trend in Asian stocks. Investors digested final outcome of Karnataka election.
The Sensex was up 78.21 points at 34,926.51 and the Nifty gained 13.50 points at 10,609.90.
SBI gained 1.5 percent after Bhushan Steel-Tata Steel deal. ICICI Bank was up 1 percent.
UltraTech Cement was up 1.6 percent and Century Textiles fell 8 percent after cement business deal.
HPCL, TCS, Hindalco Industries, Coal India, Grasim Industries
Indiabulls Housing Finance, Bajaj Finance, Maruti, Infosys, Axis Bank, Wipro, ITC, Hero Motocorp and Sun Pharma were under pressure.
The Nifty Midcap index was down 55 points.
Kitex Garments plunged 16 percent post disappointing earnings. Amara Raja Batteries, Capcite Infra, Balaji Telefilms, Future Lifestyle, Thermax, Ashok Leyland, Strides Shasun, Crompton Consumer, and Inox Wind fell up to 5 percent.
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Rupee Update: The Indian rupee declined on Monday. It has opened lower by 11 paise at 68.12 per dollar versus 68.01 Friday.
According to Motilal Oswal, rupee, on Friday, consolidated in a narrow range as most market participants were cautious ahead of the important floor test in state elections of Karnataka. Despite the impact of state elections are expected to be short-lived, the rise in global crude oil prices will continue to drive currency in the short term. Higher crude oil prices and political risk premium could keep the rupee under pressure.
Consistent fund outflows by FIIs in equity and debt segment will continue to weigh on the rupee. Volatility for the currency has been restricted in the past few sessions on the back of suspected RBI intervention. Latest RBI data showed India's FX reserves for the week ended May 11, fell by USD 1.2 billion to USD 417.7billion.
According to Motilal Oswal, rupee, on Friday, consolidated in a narrow range as most market participants were cautious ahead of the important floor test in state elections of Karnataka. Despite the impact of state elections are expected to be short-lived, the rise in global crude oil prices will continue to drive currency in the short term. Higher crude oil prices and political risk premium could keep the rupee under pressure.
Consistent fund outflows by FIIs in equity and debt segment will continue to weigh on the rupee. Volatility for the currency has been restricted in the past few sessions on the back of suspected RBI intervention. Latest RBI data showed India's FX reserves for the week ended May 11, fell by USD 1.2 billion to USD 417.7billion.
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