Sensex, Nifty open marginally lower; Ambuja Cement, HUL in focus
On global front, Asian share markets were mixed as political uncertainty globally kept the mood cautious.
Domestic markets on Monday opened marginally down amid mixed global cues. At 0918 hours Sensex was trading at 28,450.24, down 18.51 points or 0.07%, while, Nifty was at 8,821.75, up 0.05 points or 0.00%.
On 30-share benchmark, among top gainers were Bharti Airtel (1.22%), Hindustan Unilever (1.20%), Tata Consultancy Services (1.07%), Gail (0.75%) and NTPC (0.44%). Among top losers were Cipla (-1.35%), Asian Paint (-0.62%), Reliance Industries (-0.61%), HDFC Bank (-0.52%) and ITC (-0.52%).
Stocks in focus:
Tata Teleservices (Maharashtra): The shares of the company surged nearly 10% after the media reports which stated that the company is in talks with merged Reliance Communication-Aircel and MTS for the possible merger. At 0925 hours the shares of the company were trading at Rs 6.50 per piece, up 7.62% or Rs 0.46 on BSE.
Hindustan Unilever: According to a Reuters report, US food company Kraft Heinz Co withdrew its proposal for a $143-billion merger. Following the report, the shares which are listed on London Stock Exchange jumped 13% on Friday.
Today, at 0928 hours the shares of the company were trading at Rs 852.50 per piece, up 1.20% or Rs 10.15 on BSE.
TCS: Tata Consultancy Services (TCS) board meeting will be held today where the company is likely to take a decision on share buyback.
At 0929 hours the shares of the company were trading at Rs 2430 per piece, up 0.91% or Rs 21.85 on BSE.
Quarterly results announcement: Ambuja Cement will be announcing its result for the finacial year ended on December 31. Ahead of the announcement, at 0930 hours the shares of the company were trading at Rs 237.80 per piece, down 0.13% or Rs 0.30 on BSE.
On global front, Asian share markets were mixed as political uncertainty globally kept the mood cautious, while the US dollar recouped early losses ahead of a busy week for Federal Reserve speakers, as reported by Reuters.
MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.1% and back toward a 19-month peak set last week. Japan's Nikkei slipped 0.2% as domestic data showed exports disappointed in January even as imports outpaced forecasts, the report said.