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Sensex opens flat, Nifty below 10,790; Gruh Finance slips 8%

Share Source By

Dion Global

08 Jan 2019

Indian benchmark indices opened on a flat note amid mixed Asian cues on Tuesday. Asian shares rose for the third straight session on Tuesday as investors bet that Washington and Beijing are inching toward a trade deal and that U.S. Federal Reserve would halt its tightening if economic growth slows further. Oil prices edged up on Tuesday, supported by hopes that US-Chinese talks in Beijing would bring a halt to a trade dispute between the world’s biggest economies, while the start of OPEC-led supply cuts also tightened markets. US West Texas Intermediate (WTI) crude oil futures were at $48.69 per barrel, up 17 cents, or 0.4 per cent from their last settlement. The Indian rupee opened lower by 12 paise at 69.80 per dollar on Tuesday against previous close 69.68. A brush of red is visible among majority of sector, while defensives such as IT and pharma are trading in the green. The shares of Gruh Finance were trading 8 per cent lower as Bandhan Bank on Monday said its board of directors has approved the merger of Gruh Finance into the lender.

At 9:08 hours, the BSE SENSEX was trading at 35771.68 down by -78.48 points or by -0.22 per cent and then NSE Nifty was at 10786.25 up by 14.45 points or by 0.13 per cent.

The top gainers of the BSE Sensex were Housing Development Finance Corporation Ltd. (Rs. 2007.00,+1.83%), Oil And Natural Gas Corporation Ltd. (Rs. 148.85,+0.88%), Bajaj Auto Ltd. (Rs. 2678.00,+0.78%), NTPC Ltd. (Rs. 149.55,+0.77%), Bharti Airtel Ltd. (Rs. 326.90,+0.76%).

The top losers of the BSE Sensex were Mahindra & Mahindra Ltd. (Rs. 724.00,-0.77%), Bajaj Finance Ltd. (Rs. 2542.00,-0.42%), Axis Bank Ltd. (Rs. 635.10,-0.37%), State Bank of India (Rs. 295.00,-0.24%), Power Grid Corporation of India Ltd. (Rs. 198.00,-0.20%).

Among sectors, BSE IT index was at 14082.11 up by 33.62 points or by 0.24%. 8K Miles Software Services Ltd. (Rs. 144.60,+4.97%), Rolta India Ltd. (Rs. 8.29,+4.54%), 3i Infotech Ltd. (Rs. 3.68,+1.94%), AXISCADES Engineering Technologies Ltd. (Rs. 83.80,+1.88%), Mahindra & Mahindra Ltd. (Rs. 691.40,+0.56%). On the flip side, BSE Bankex index was at 30454.4 down by -96.96 points or by -0.32%. Axis Bank Ltd. (Rs. 635.10,-0.37%), State Bank of India (Rs. 295.00,-0.24%).

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 333 , shares advanced were 222 while 89 shares declined and 22 were unchanged.