- Independence Day 2022 Celebrations: HIGHLIGHTS - KNOW TOP POINTS, IMPORTANT QUOTES, BIG STATEMENTS
- PM Narendra Modi's Panchpran - 15th August - five pledges that will make India a developed nation in 25 years
- Independence Day 2022: What PM Modi said on launch of 5G mobile services in his I-Day speech
- Independence Day 2022: PM Modi dons white turban with Tricolour stripes in tune with Har Ghar Tiranga | PICS
- Dividend stocks, bonus share, stock split: IRCTC, Info Edge, BPCL among 17 shares to remain in focus this week |Full list
Sensex starts on a choppy note on weak global cues
Domestic equity benchmarks BSE Sensex and NSE Nifty started on a choppy note Monday tracking weak cues from global markets as rising rift between the US and China kept investors on edge.
Domestic equity benchmarks BSE Sensex and NSE Nifty started on a choppy note Monday tracking weak cues from global markets as rising rift between the US and China kept investors on edge. The 30-share index was trading 23.96 points, or 0.06 per cent, lower at 37,439.03. The broader NSE Nifty was also trading 7.85 points, or 0.07 per cent, down at 11,271.05.
In the previous session on Friday, the BSE bourse closed 95.92 points, or 0.26 per cent, down at 37,462.99; and the Nifty shed 22.90 points, or 0.20 per cent, to settle at 11,278.90. Top losers in the Sensex pack include L&T, Tata Steel, M&M, NTPC, Sun Pharma, HDFC twins, Kotak Bank, Yes Bank and Sun Pharma, shedding up to 1.98 per cent.
On the other hand, SBI, TCS, HUL, ONGC, Bajaj Finance, Vedanta, Hero MotoCorp, HCL Tech, Bharti Airtel, Maruti, ITC and RIL, were among the top gainers, rising up to 1.35 per cent. Elsewhere in Asia, bourses were trading significantly lower after the near collapse of trade talks with China last week.
Trump on Friday imposed a hefty duty on import of Chinese products from 10 per cent to 25 per cent worth more than USD 200 billion and asking for a similar increase on tariff on the rest of the Chinese import of over USD 300 billion.
Sustained foreign fund outflow too weighed on investor sentiment here, traders said. Foreign institutional investors (FIIs) sold equity worth Rs 1,245.14 crore on Friday, while domestic institutional investors (DIIs) purchased shares to the tune of Rs 1,057.42 crore, provisional data available with stock exchanges showed.
According to Hemang Jani, Head - Advisory, Sharekhan by BNP Paribas, as we move closer towards the election results day (May 23), one can expect the volatility in the market to only increase further. 2019 general election continues to be an important near term event for the market. Meanwhile, on the currency front, rupee depreciated 19 paise to 70.11 against the US dollar.
Brent crude futures, the global oil benchmark, were trading 0.30 per cent higher at USD 70.83 per barrel.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.