Market Update: Sensex is down 4.65 points or 0.01 percent at 38,857.58, and the Nifty is down 14.80 points or 0.13 percent at 11,651.20. About 1,126 shares have advanced, 868 shares declined, and 118 shares are unchanged. Power Grid Corp and IndusInd Bank are the biggest gainers, whereas Adani Ports and Asian Paints are the biggest losers.
CLSA on UltraTech Cement: CLSA has upgraded the stock to buy from outperform and raised target to Rs 5,025 from Rs 4,500 per share.
According to CLSA, the better cement pricing improves outlook. The better pricing and stable costs will drive recovery in unit margins.
Market Update: The benchmark indices erased all its morning gains and trading lower with Nifty around 11,650 level.
At 09:44 hrs IST, the Sensex is down 10.54 points at 38,851.69, while Nifty is down 14 points at 11,652.00. About 893 shares have advanced, 599 shares declined, and 111 shares are unchanged.
Buzzing: Shares of Torrent Pharmaceuticals fell 1.5 percent in the early trade on Monday after company received certain observations from USFDA.
Market opens: It is positive start for the Indian indices on Monday with Nifty above 11,700 level.
At 09:17 hrs IST, the Sensex is up 102.10 points at 38964.33, while Nifty up 20.10 points at 11686.10. About 566 shares have advanced, 276 shares declined, and 51 shares are unchanged.
NIIT, HUL, Titan HDFC Bank, Vedanta, Tata Steel, JSW Steel, Lakshmi Vilas Bank, are among major gainers on the indices, while losers are Indiabulls Housing Finance, HPCL, BPCL, Asian Paints, NIIT Tech, HCL Tech and RIL.
Among the sectors, except energy all other indices are trading in green led by infra, metal, pharma and FMCG.
Rupee Opens: The Indian rupee opened lower by 11 paise at 69.33 per dollar on Monday versus 69.22 Friday.
Market at pre-open: Benchmark indices are trading higher in the pre-opening session on Monday.
At 09:01 hrs IST, the Sensex is up 73.56 points or 0.19% at 38935.79, and the Nifty up 41.20 points or 0.35% at 11707.20.
Titan trading lower, while NIIT and NIIT Tech are trading higher in the pre-opening.
Currency Update: The dollar retained modest gains on Monday after a U.S. jobs report put to bed fears of a sharper slowdown in the world’s largest economy.
SGX Nifty: Trends on SGX Nifty indicate a flat opening for the broader indices in India, a gain of 1 points or 0.01 percent. Nifty futures were trading around 11,774-level on the Singaporean Exchange.
Crude Update: Oil prices rose to five-month highs on Monday, driven up by OPEC’s ongoing supply cuts, US sanctions against Iran and Venezuela and healthy US jobs data.
Asian markets trade higher: Asian shares inched up to seven-month highs on Monday as investors cheered a rebound in US payrolls and hints of more stimulus in China, though there was some caution ahead of what is likely to be a tough US earnings season.
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