The markets opened flat on Monday with Sensex at 65,378.12, down by 19.50 points and Nifty was at 19,524.45 with a loss of 18.25 points. ICICI Bank, Nestle, Bajaj Finance, Tata Motors, and Bajaj Finserv were the top gainers in the morning session whereas Kotak Bank, UltraTech Cement, TCS, Titan and L&T were amongst the losers.
Torrent Pharmaceuticals, Mahindra Holidays & Resorts, PNB Housing Finance, NDTV, Mahindra Logistics, Lloyds Metals and Energy and Poddar Housing and Development to announce earnings for the second quarter of this financial year today.
Markets on Friday
The markets on Friday ended the week in red. Sensex closed at 65,398.56, down by 230.68 points and Nifty fell 84.10 points to end the week at 19,540.60. The Nifty Bank was also down 24.80 points or 0.06 per cent to 43,729.70.
US markets closed lower on Friday amid interest rate hike worries and the spreading of Israel-Hamas conflict. The Dow Jones Industrial average lost 286.89 points to end the day at 33,127.28, the S&P 500 dropped 53.84 points at 4,224.16 and the Nasdaq Composite fell 202.37 points at 12,983.81.
For the last week while Dow saw a drop of 1.6 per cent, S&P 500 and Nasdaq slipped 2.4 per cent and 3.2 per cent respectively.
The Asian stock markets were trading lower on Monday with Japan's Nikkei 225 shedding 110.68 points at 31,148.68, South Korea's KOSPI was down at 2,374.15 with a loss of 0.85 points, Hong Kong's Hang Seng fell 123.76 points at 17,172.13. However, Gift Nifty rose 87 points at 19,513.50.
Oil prices rose on Monday amid the rising fear that the Israel-Hamas conflict could spread to the Middle East and drive the fuel prices higher. Brent crude futures for November rose 60 cents to $91.56 per barrel and US West Texas Intermediate was at $87.47 per barrel with a gain of 61 cents.
The Indian rupee opened lower on Monday morning at 83.17 per dollar against Friday's close of 83.12.