Market Live: Sensex up over 150 pts, Nifty above 10,820; banks see big gains. Among sectoral indices, pharma, metals and IT stocks are trading higher, while midcaps, too, are seeing good gains.
Among sectoral indices, pharma, metals and IT stocks are trading higher, while midcaps, too, are seeing good gains.
The market is witnessing good gains post its opening, with the Nifty trading well above 10,800-mark, while the Sensex is up over 150 points. The market breadth currently favours the advances. Midcap index is seeing a strong surge, gaining almost a percent on the Nifty, while sectoral indices such as PSU banks, pharma, infra, and energy are the biggest gainers.
Bharti Airtel, Dr. Reddy’s Labs, and Sun Pharma are the top gainers, while Power Grid and Tata Motors have lost the most. Avenue Supermarts, the operator of DMart chain of outlets, touched a market capitalization of Rs 1 lakh crore on Monday morning. The stock managed to gain 2 percent.
The market is witnessing good gains post its opening, with the Nifty trading well above 10,800-mark, while the Sensex is up over 150 points. The market breadth currently favours the advances. Midcap index is seeing a strong surge, gaining almost a percent on the Nifty, while sectoral indices such as PSU banks, pharma, infra, and energy are the biggest gainers.
Bharti Airtel, Dr. Reddy’s Labs, and Sun Pharma are the top gainers, while Power Grid and Tata Motors have lost the most. Avenue Supermarts, the operator of DMart chain of outlets, touched a market capitalization of Rs 1 lakh crore on Monday morning. The stock managed to gain 2 percent.
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Market Opens: Shares have begun the week on a positive note, with the Nifty trading eyeing 10,800-mark.
The Sensex is up 46.03 points or 0.13% at 35489.70, and the Nifty up 15.50 points or 0.14% at 10783.20. The market breadth is positive as 393 shares advanced, against a decline of 151 shares, while 60 shares are unchanged.
Among sectoral indices, pharma, metals and IT stocks are trading higher, while midcaps, too, are seeing good gains.
The Sensex is up 46.03 points or 0.13% at 35489.70, and the Nifty up 15.50 points or 0.14% at 10783.20. The market breadth is positive as 393 shares advanced, against a decline of 151 shares, while 60 shares are unchanged.
Among sectoral indices, pharma, metals and IT stocks are trading higher, while midcaps, too, are seeing good gains.
Dr. Reddy’s Labs, Adani Ports, Bajaj Finance and HCL Tech are the top gainers, while ICICI Bank, HUL, and Axis Bank have lost the most.
Asian stocks moved gingerly as a weekend G7 summit fanned trade conflict fears after US President Donald Trump backed out of a joint communique in a blow to the group’s efforts to show a united front.
Trump’s reversal, announced while he was en route to Singapore for a meeting with North Korean leader Kim Jong Un, sent his Group of Seven partners scrambling.
“The G7 meeting in Canada reiterated the growing rift between Washington and its allies over free trade,” wrote Tai Hui, chief market strategist for the Asia Pacific at J.P. Morgan Asset Management.
“Business confidence, and subsequently capital spending, is at risk if this tension continues through the summer,” he said, adding that central bank meetings will be critical events this week.
Rupee Update: The Indian rupee opened with a marginal gain of 4 paise at 67.46 per dollar on Monday versus previous close 67.50.
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Asian stocks moved gingerly as a weekend G7 summit fanned trade conflict fears after US President Donald Trump backed out of a joint communique in a blow to the group’s efforts to show a united front.
Trump’s reversal, announced while he was en route to Singapore for a meeting with North Korean leader Kim Jong Un, sent his Group of Seven partners scrambling.
“The G7 meeting in Canada reiterated the growing rift between Washington and its allies over free trade,” wrote Tai Hui, chief market strategist for the Asia Pacific at J.P. Morgan Asset Management.
“Business confidence, and subsequently capital spending, is at risk if this tension continues through the summer,” he said, adding that central bank meetings will be critical events this week.
Rupee Update: The Indian rupee opened with a marginal gain of 4 paise at 67.46 per dollar on Monday versus previous close 67.50.
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Rupee, on Friday, came under pressure against the US dollar after global crude oil prices continued its uptrend. But in the late half of the session crude prices came under pressure as US oil drilling activity rose to its highest level since March 2015, while increasing output in Russia also weighed on the market, said Motilal Oswal.
On the domestic front, market participants will be keeping an eye on inflation and industrial production number. The expectation is that inflation for May could rise to 4.8% compared to rising of 4.5% in the previous month.
Today, USD-INR pair is expected to quote in the range of 67.45 and 67.85. Volatility for the pair could be confined to a narrow range ahead of the important global economic events scheduled for this week, it added.
On the domestic front, market participants will be keeping an eye on inflation and industrial production number. The expectation is that inflation for May could rise to 4.8% compared to rising of 4.5% in the previous month.
Today, USD-INR pair is expected to quote in the range of 67.45 and 67.85. Volatility for the pair could be confined to a narrow range ahead of the important global economic events scheduled for this week, it added.
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