The markets on Monday morning were trading flat with Sensex at 62,991.99, up by 12.62 points and Nifty was at 18,661.90 with a loss of 3.60 points. UltraTech Cement, Hindustan Unilever, ICICI Bank, Nestle and Wipro were the top gainers in the morning session, whereas TCS, Asian Paints, Bharti Airtel, Bajaj Finserv and Power Grid were among the losers.
Markets on Friday
After reaching a new life high, the BSE Sensex fell 405 points to 62,979 and the Nifty50 lost 160 points to 18,665 as most sectors were under pressure. The global markets were also cautious due to rate hike by central banks and hawkish comments by Fed Chair.
US markets on Friday closed lower with the Dow Jones Industrial Average dropping 219.28 points to 33,727.43, the S&P 500 fell 33.56 points to 4,348.33 and the Nasdaq Composite lost 138.09 points to 13,492.52.
The Asian stock markets on Monday was slightly higher with Singapore's SGX Nifty gaining 3.50 points at 18,718.50, Hong Kong's Hang Seng was at 18,896.44 with a jump of 6.47 points, South Korea's KOSPI was at 2,583.04 with an increase of 12.94 points and Japan's Nikkei 225 was up by 78.61 points at 32,860.15.
Oil prices on Monday morning were higher after a revolt by Russian mercenaries broke out over the weekend and raised concerns regarding the stability of Russian politics and the impact of the revolt on oil supply. Brent crude futures went up by 27 cents at $74.12 per barrel and US West Texas Intermediate crude was at $69.44 per barrel with a gain of 28 cents.
Indian rupee opened higher on Monday at 82 per dollar against Friday's close of 82.03.