Market Live: Sensex off highs, Nifty continues to hold 10,700; PSU banks fall

Barring Infra and PSU bank index, all other sectoral indices are trading in green.

Market Update Equity benchmarks were higher on Monday morning, with Sensex rising over 100 points. The Nifty held 10,700.

The Sensex is up 106.39 points or 0.30% at 35563.55, while the Nifty was higher by 21.80 points or 0.20% at 10704.00. The market breadth was narrow as 899 shares advanced, against a decline of 712 shares, while 80 shares unchanged.

Promoters of Vikas Ecotech have sold shares worth Rs 15.9 crore for inorganic growth opportunity. The funds raised through such a mode will be utilized in the company through zero interest unsecured loan.

Buzzing: Share price of Tata Investment Corporation gained more than 8 percent in the early trade on Monday after company approved the buyback plan.

The company board approved a proposal to buyback upto 45 lakh equity shares of the company for an aggregate amount not exceeding Rs 450 crore being 8.17 percent of the total paid-up equity share capital, at Rs 1,000 per share.

Rupee Update: After a flat opening the Indian rupee is trading lower by 13 paise at 72.05 per dollar on Monday versus previous close 71.92.

Market opens: Equity benchmarks have opened higher on Monday with Nifty is well above 10,700 mark, while Sensex also gained more than 150 points.

The Sensex is up 160.65 points at 35,617.81, while Nifty is up 40.60 points at 10722.80. About 536 shares have advanced, 231 shares declined, and 44 shares are unchanged. 

Jet Airways down 10 percent, Bharti Airtel is down 2 percent, Siemens is down 4 percent, HPCL, IOC, ICICI Bank, Axis Bank are among major losers. Tata Investment gained 7 percent.

Market at pre-open: Indian indices are trading higher in the pre-opening trade with Nifty is trading above 10,700 level.

The Sensex is up 124.64 points or 0.35% at 35581.80, while Nifty up 61.20 points or 0.57% at 10743.40.

The Indian rupee opened flat at 71.92 per dollar on Monday versus previous close 71.92.

Dollar Updates: The dollar was modestly lower against its key rivals on Monday after Federal Reserve officials expressed caution over the global growth outlook, prompting traders to reassess the pace of future US interest rate increases.

Crude Update: Oil prices rose on Monday as traders expected top exporter Saudi Arabia to push producer club OPEC to cut supply towards the end of the year.

SGX Nifty: Trends on SGX Nifty indicate a positive opening for the broader index in India, a gain of 53.50 points or 0.50 percent. Nifty futures were trading around 10,751.50-level on the Singaporean Exchange.

Asian markets trades firm: Asian shares inched cautiously higher on Monday amid conflicting signals on the chance of a truce in the Sino-US trade dispute, while a new-found air of concern on the global outlook at the Federal Reserve undermined the dollar.

Wall Street ends mixed on Friday: The S&P 500 and Dow Industrials rose on Friday after President Donald Trump said the United States may not have to impose further tariffs on Chinese goods, but falling shares of Nvidia Corp dragged down the Nasdaq.

Disclaimer:- The views and investment tips expressed by investment experts are their own. Ripples Advisory advises users to check with certified experts before taking any investment decisions.

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