Losses in indices were, however, limited as S&P Global Ratings retained India’s sovereign rating at BBB- with a stable outlook, a week after Moody’s Investors Service upgraded India’s rating.

The BSE Sensex opened lower on Monday against the previous session’s closing. The broader NSE’s Nifty, too, fell in the morning hours. The Indian rupee opened lower against the US dollar.

At 9:51 AM, BSE Sensex down 85 points to 33,594 and the NSE Nifty50 Index slipped 31 points to 10,358.  The BSE Mid-cap Index and BSE Small-cap Index are trading marginally higher at 16,935 and 18,053 respectively.

ONGC, UPL, Vedanta, Hindalco and Tech Mahindra gained the most on Nifty50, while HPCL, Infosys, Bharti Airtel, Adani Ports and Sun Pharma were the top losers.  Meanwhile, the Indian rupee opened at 64.71 per dollar against Friday’s close of 64.70.

Some buying was seen in media and realty sectors, while PSU bank, FMCG, IT and metal sectors showed weakness on the NSE.  India VIX rose by 1.35% at 13.69 level.

Out of 1,971 stocks traded on the NSE, 840 advanced, 690 declined, and 441 remained unchanged today.  A total of 50 stocks registered a fresh 52-week high in trade today, while four stocks touched a new 52-week low on the NSE.

Shares of Adani Enterprises fell over 3% after reports said the Labour Party in Queensland, Australia was in a position to regain power, raising doubts over the company’s near $13 bn Carmichael coal mine project.

source: indiainfoline.com