Sensex Down Nearly 100 Points, Nifty Holds 7,900
9.30 a.m.: After breaking the 26,000 level in the opening trade, the Sensex recover marginally to trade above the 26,000 mark, now down 154 points. The Nifty trades 49 points lower at 7,914. Banking and metal stock witness selling pressure.
Among the Nifty-50 stocks, Idea Cellular, Bharti Airtel, M&M, HDFC and ICICI Bank fall over one per cent each to be the prominent losers in Nifty. Cairn India surged nearly 2 per cent to Rs 141.30 as crude oil rebounded 3 per cent on Monday on Middle East tensions.
IRB Infra shares surged over 11 per cent to Rs 272 after the company bagged its biggest ever order worth Rs 10,000 crore to build South East Asia’s longest tunnel in Jammu and Kashmir.
9.15 a.m.: Sensex falls over 180 points to 25,970.65 while the 50-share Nifty sheds over 50 points to 7,902.55 in the opening deals. Banking, metal shares fall nearly 1 per cent each.
9.00 a.m.: Rupee opens lower at 66.25 per dollar against Friday’s close of 66.14.
8.15 a.m.: The BSE Sensex and the 50-shares Nifty are likely to open lower on Monday as indicated by Nifty futures traded on Singapore Stock Exchange.
The Singapore Nifty or SGX Nifty is down 37 points or 0.47 per cent indicating a weak start for the Indian markets.
Sentiments are likely to be positive as foreign investors were net buyers of Indian shares on Friday. They bought cash shares worth Rs 228 crore while domestic investors were net sellers to the tune of Rs 81 crore.
Other Asian markets began their first trading session of 2016 on a weak note. Hong Kong’s Hang Seng index falls over 2 per cent while the Japan’s Nikkei sinks over 2.5 per cent. China’s Shanghai Composite index sheds over 3 per cent.
Meanwhile, crude oil prices jumped over 3 per cent on Monday after Saudi Arabia’s execution of a prominent Shi’ite Muslim cleric spurred regional anger and geopolitical tension.
Read full article: NDTV
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