Opening bell:Sensex reverses losses, Nifty regains 10K; Tata Steel up 2% | Indian Share Market

Indian Share Market


Opening bell:Sensex reverses losses, Nifty regains 10K; Tata Steel up 2%

In a volatile trade, the benchmark indices reversed losses with the Nifty50 reclaiming its crucial 10,000 mark even as Asian markets were trading mixed after on Friday Wall Street ended a six-day run of record highs after the first monthly decline in US non-farm jobs in seven years.

Sentiment turned cautious as earnings season for the July-September quarter kicks off this week with over 30 companies scheduled to report their Q2 numbers. These include, TCS, Reliance Industries, South India Bank, IndusInd Bank, Cyient, and Bajaj Corporation, among others.

The combined net profit of Nifty50 companies is expected to grow by 7.4% on a year-on-year (YoY) basis in Q2FY18, against 1.8% decline during the June 2017 quarter and 8.5% growth during the corresponding period a year ago.

9:55 am Rupee trade: The rupee went up 6 paise to 65.31 against the dollar today after the US currency found no takers among exporters and banks.

The dollar losing sheen against other currencies overseas supported the local unit, traders said. A higher start in domestic equities added to the upside, they added.

On Friday, the rupee had depreciated by 24 paise to end at 65.38 on persistent demand for the American currency from importers.


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