Market Live: Sensex, Nifty trade lower; Tata Motors, ICICI Bank, BPCL, HPCL drag. Shares of ICICI Bank lost around 2 percent in the morning trade as investors turned cautious of another whistleblower complaint against it.
Shares of ICICI Bank lost around 2 percent in the morning trade as investors turned cautious of another whistleblower complaint against it.
Crude Update: Brent crude oil prices fell over 1.5 percent on Monday as traders factored in an expected output increase that was agreed at the headquarters of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna on Friday.
Brent crude futures, the international benchmark for oil prices, were at USD 74.21 per barrel at 0343 GMT, down 1.8 percent from their last close.
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US West Texas Intermediate (WTI) crude futures were at $68.40 a barrel, down 0.3 percent, supported more than Brent by a slight drop in US drilling activity.
Prices initially jumped after the deal was announced late last week as it was not seen boosting supply by as much as some had expected.
Prices initially jumped after the deal was announced late last week as it was not seen boosting supply by as much as some had expected.
The market has begun this week on a subdued note. Indices opened mildly lower, but are now trading flat. The Nifty manages to hold 10,800 levels. Some strength is visible among pharmaceutical names, which are currently trading higher by a percent. The IT index is also trading up a percent. Vedanta, Infosys and UltraTech Cement are the top gainers, while Tata Motors, NTPC, and BPCL have lost the most.
Market Open: Shares have begun the week on a flat note, with the Nifty holding 10,800-mark.
The Sensex is down 17.18 points at 35672.42, and the Nifty down 8.20 points at 10813.70. About 385 shares have advanced, 456 shares declined, and 56 shares are unchanged.
Infosys, Lupin, IndusInd Bank, Vedanta are the top gainers, while Dr. Reddy's, Tata Motors, ICICI Bank, RIL, Yes Bank and SBI are the top losers.
Among the sectors, auto, energy, infra are trading lower, while IT, metal and pharma gain the most.
Asian shares got the week off to a cautious start on Monday amid lingering concerns about escalating trade frictions while US oil prices maintained hefty gains made after major oil producers had agreed on a modest increase in production
Market Open: Shares have begun the week on a flat note, with the Nifty holding 10,800-mark.
The Sensex is down 17.18 points at 35672.42, and the Nifty down 8.20 points at 10813.70. About 385 shares have advanced, 456 shares declined, and 56 shares are unchanged.
Infosys, Lupin, IndusInd Bank, Vedanta are the top gainers, while Dr. Reddy's, Tata Motors, ICICI Bank, RIL, Yes Bank and SBI are the top losers.
Among the sectors, auto, energy, infra are trading lower, while IT, metal and pharma gain the most.
Asian shares got the week off to a cautious start on Monday amid lingering concerns about escalating trade frictions while US oil prices maintained hefty gains made after major oil producers had agreed on a modest increase in production
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Rupee Update: The Indian rupee opened marginally lower by 6 paise at 67.90 per dollar on Monday versus 67.84 Friday.
On the daily chart, USD-INR has been falling down from last two trading sessions after taking a resistance of upper Bollinger band formation; which indicate bearish sentiments for near term.
In addition, Price has shifted below 21 DEMA on daily chart, which confirms downward trend for near term.
Moreover, a momentum indicator RSI (14) and MACD has turned down with negative crossover on daily chart.
So based on the above analysis, we expect bearish movement in USD-INR towards 67.50 levels, said Choice Broking.
On the daily chart, USD-INR has been falling down from last two trading sessions after taking a resistance of upper Bollinger band formation; which indicate bearish sentiments for near term.
In addition, Price has shifted below 21 DEMA on daily chart, which confirms downward trend for near term.
Moreover, a momentum indicator RSI (14) and MACD has turned down with negative crossover on daily chart.
So based on the above analysis, we expect bearish movement in USD-INR towards 67.50 levels, said Choice Broking.
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