Market Live: Sensex opens lower, Nifty below 9,700, IT stocks up over weak rupee | Indian Share Market

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Market Live: Sensex opens lower, Nifty below 9,700, IT stocks up over weak rupee

Mumbai: The BSE Sensex opened lower on Thursday against the previous session’s closing. The broader NSE’s Nifty, too, fell in the morning hours. The shares of Sun Pharma, ITC and TCS rose, whereas the shares of Asian Paints and Adani Ports fell.

Indian rupee weakened for the sixth consecutive session, its longest losing streak since May 2016, on Thursday to hit fresh six-month low against the dollar following a rout in equities over concerns of fiscal stimulus by the government.

Here are the latest updates from the markets:

■ 9.35am: BSE Sensex opened lower by 62 points, or 0.20%, to 31,098, while the Nifty 50 fell 40 points, or 0.41%, to 9,696.

■ 9.25am: Oil marketing companies trading lower. Hindustan Petroleum Corp Ltd fell 3%, Indian Oil Corp Ltd 2.8%, Bharat Petroleum Corp. Ltd 1.5%.

■ 9.20am: Oil & Natural Gas Corp. Ltd fell 1.4% to Rs 167.90. According to PTI report, the government plans to sell stake in ONGC oilfields to private firms.

■ 9.17am: IT stocks trading higher after Rupee weakened to fresh six month low. TCS Ltd rose 0.7%, Infosys Ltd 0.6%, Wipro Ltd 0.3%, Tech Mahindra Ltd 1.6%, HCL Technologies Ltd rose 0.6%

■ 9.15am: The Indian rupee opened at 65.79 and touched a low of 65.89—a level last seen on 14 March. At 9.15am, rupee was trading at 65.86 against the dollar, down 0.22% from its Wednesday’s close of 65.71.

■ 9.13am: The 10-year bond yield was at 6.682%, compared to its previous close of 6.667%. Bond yields and prices move in opposite directions.

■ 9.10am: Indonesian rupiah was down 0.81%, South Korean won 0.64%, Taiwan dollar 0.47%, Thai Baht 0.34%, Philippines peso 0.23%, Singapore dollar 0.17%, Malaysian ringgit 0.15%, China Offshore 0.13%, China renminbi 0.11%. The dollar index, which measures the US currency’s strength against major currencies, was trading at 93.522, up 0.17% from its previous close of 93.36.

Source:livemint.com

Categories:   Stock Market

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