The markets on Monday opened in green with Sensex at 59,820.53, up by 165.47 points and Nifty rose by 77.30 points at 17,703.35. ICICI Bank, Reliance, Wipro, IndusInd Bank and HDFC Bank were the top gainers whereas Tech Mahindra, Bharti Airtel, Hindustan Unilever, Mahindra and Mahindra and Tata Steel were the top losers.
The stocks of IndusInd Bank, Bank of Maharashtra, Persistent Systems, IIFL Securities, Century Textiles and Industries, NELCO, Trident Texofab, Tata Teleservices and Tamilnad Mercantile Bank will be in focus as the companies are announcing the results for the last quarter today.
The market is expected to react to the quarterly results of Reliance Industries, Yes Bank and ICICI Bank that were released during the weekend.
Markets on Friday
The share markets on Friday closed flat after a volatile session, with Sensex at 59,655.06, up by 22.71 points and Nifty down by 0.40 points at 17,624. TCS, ITC, Britannia Industries, Asian Paints and Wipro were among the gainers whereas HDFC Life, Adani Enterprises, Maruti Suzuki, Tech Mahindra and SBI Life Insurance were the losers for the day. While the realty index saw a fall of 2 per cent, auto and metal indices were higher at 1 per cent each.
US indexes on Friday closed higher after mixed earning results. The Dow Jones Industrial Average went up 22.34 points to 33,808.96 and the S&P 500 rose 3.73 points to 4,133.52, whereas the Nasdaq Composite jumped by 12.90 points at 12,072.46. On the Singapore Exchange Nifty futures were trading around the level of 17,686.50. Even the European markets reported gains on Friday with DAX and CAC going up by 0.5 per cent.
Whereas Asian markets dipped into red with MSCI's broadest index of Asia Pacific shares outside Japan going down by 0.2 per cent on Monday morning. Hong Kong's Hang Seng was marginally down and China's Shanghai Composite fell by 0.2 per cent. On the other hand Japan's Nikkei 225 was up by 0.2 per cent.
On Monday oil prices fell over concerns of rising interest rates and the impact on outlook for fuel demand due to the prospect of tighter supplies on OPEC+ supply cut. Brent crude fell 48 cents to $81.18 per barrel and US West Texas Intermediate crude slipped 48 cents to $77.39 per barrel.
Indian rupee on Monday opened flat at 82.08 per dollar against Friday's close of 82.09.
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