Tuesday, 1 January 2019

Nifty Below 10,850 Mark Metal IT Stocks Slip

Posted by suhani varma on Tuesday, January 01, 2019 with No comments


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Equity benchmark indices opened on a tepid note, with the Nifty trading below 10,900. The Indian rupee opened higher by 0.19% to 69.63 against the greenback.

The Sensex is down 44 points at 36,024, and the Nifty slipped 27 points at 10,835. The market breadth is negative as 638 shares advanced, while 790 shares declined and 594 shares remained unchanged.

Shares of Bharti Airtel gained 1.4%, while Axis Bank stock up 0.5% in the opening trade.

Shares of airline companies gained on the back of a cut in aviation turbine fuel prices.

On the sectoral front, pharmaceuticals and consumption and infra stocks are trading in the green, while auto, metal, banking and IT stocks are trading in the red.

HUL, Bharti Airtel, and Bajaj Auto are the top gainers, while Hero MotoCorp, Power Grid, HCL Tech and Tech Mahindra lost the most on the BSE.

All financial markets in Asia are closed on Tuesday for a public holiday.

Wall Street advanced in low-volume trading, on Monday, as revellers gathered to ring in 2019, marking the end of the worst year for US stocks since 2008, the height of the financial crisis.

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