The markets on Tuesday opened in red with Sensex at 60,042.24, down by 13.85 points and Nifty fell by 11.20 points at 17,732.20. IndusInd Bank, Maruti, Bharti Airtel, Axis Bank and Tata Steel were the top gainers whereas Tata Motors, Nestle, Mahindra and Mahindra, Asian Paint, Titan and ITC were the top losers.
The stocks of Bajaj Auto, HDFC Asset Management Company, Nestle, Tata Consumer Product, AU Small Finance Bank, Mahindra CIE Automotive, Mahindra Lifespace Developers, Mahindra Holidays and Resort India and Tata Steel Long Products will be in focus as the companies are announcing the results for the last quarter today.
Mankind Pharma opens for subscription on Tuesday. The company mobilised Rs 1,298 crore from anchor investors on Monday a day before floating the public issue. The company also said that it has decided the allocation of 1.2 crore shares to anchor investors at Rs 1,080 per share.
Markets on Monday
The markets on Monday closed higher with Sensex at 60,056 up by 401 points and Nifty rose by 119 points to 17,743. HDFC Life Insurance was the best performing stock with a gain of 6.4 per cent. Tata Consumer, Axis Bank, Wipro and ICICI Bank were among the gainers for the day whereas Dr. Reddy's Labs, Cipla and IndusInd Bank were among the losers.
Global Market
Wall street indices on Monday were muted ahead of tech earnings, with Dow Jones Industrial Average up by 0.2 per cent at 33,875.4, Nasdaq Composite down 0.3 per cent at 12,037.20 and S&P 500 jumped by 0.1 per cent to 4,137.04. European markets were also flat on Monday with DAX seeing a dip of 0.1 per cent and FTSE also flat.
The Asian markets were also mixed in response to the US markets. MSCI's broadest index of Asia Pacific outside Japan saw a drop of a per cent in the morning hours. Japan's Nikkei 225 was up by 0.6 per cent at 28,773.21, whereas Hong Kong's Hang Seng was down 1.7 per cent and China's Shanghai Composite slumped 1.7 per cent.
Oil prices
Crude price moves fell on expectations of rise in demand in China due to holiday travel with prospects of rising interest rate indicating economic growth. Brent crude was at $82.66 per barrel down by 7 cents and West Texas Intermediate crude went down 6 cents to $78.70 per barrel.
Rupee
Indian rupee on Tuesday opened higher at 81.87 per dollar against previous close of 81.91.
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