Sensex, Nifty update: Torrent Pharma, Yes Bank, UPL major gainers; Maruti Suzuki, ICICI Bank in losers list
On global front, Asian shares nudged higher today amid hints of progress in the Sino-US trade saga, while the dollar hit two-month highs on the euro as investors wagered on a dovish outcome from the European Central Bank`s coming policy meeting.
Benchmark Indian indices are trading flat with positive bias in the early trade today with Sensex was up 26 points or 0.07 per cent at 38,008, while Nifty was down 4 points or 0.04 per cent at 11,326.
Major gainers in the early trade include Torrent Pharma, Zee Entertainment, L&T, HUL, Yes Bank, UPL, ONGC, Bajaj Finserv, Coal India, Tata Steel, while losers are Maruti Suzuki, Cipla, BPCL, ICICI Bank, Dr Reedy's Lab and M&M Financial.
According to Anil Singhvi, Managing Editor of Zee Business, the short-term trend of the domestic Indian markets will be Negative today, amid positive domestic institutional investors (DIIs) and global markets, neutral futures and options (F&O), negative foreign institutional investors (FIIs) and sentiment cues.
He advised to to buy Jubilant Food Futures at Stop Loss of 1200 with targets of 1245, 1255, and 1260.
On global front, Asian shares nudged higher today amid hints of progress in the Sino-US trade saga, while the dollar hit two-month highs on the euro as investors wagered on a dovish outcome from the European Central Bank`s coming policy meeting, said a Reuters report, adding that sentiment had been helped by a Bloomberg report that US Trade Representative Robert Lighthizer would travel to Shanghai next week for meetings with Chinese officials.
— Zee Business (@ZeeBusiness) July 24, 2019
Earlier on Tuesday, the Sensex had slipped below the 38,000 mark for the first time since the Budget was presented on July 5, settling 48.39 points lower at 37,982.74, while the broader Nifty closed 15.15 points down at 11,331.05. Notably, prior to the Budget day, Sensex had surpassed the 40,000 mark, touching a life-time high, but Tuesday`s session saw the benchmark Indian equity index closing even below the 38,000 mark.
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