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Sensex opens flat, Nifty below 10,850; Vakrangee rises 5%

Share Source By

Dion Global

10 Jan 2019

Indian domestic benchmark indices opened largely flat with some negative bias on Thursday taking cues from their Asian peers. In stock markets, the Asian shares began cautiously on Thursday, struggling to rise after a multi-day rally as markets await more news on US-China trade talks that have raised hopes of a deal to avert an all-out trade war. Oil prices dipped on Thursday on swelling US supply, although the mood in global markets was increasingly confident amid hopes the United States and China may soon end trade disputes that have undermined global economic growth. Delegations from China and the United States ended three days of trade talks in Beijing on Wednesday in the first face-to-face negotiations since both sides agreed to a 90-day truce in a trade war that has disrupted the flow of hundreds of billions of dollars of goods. US West Texas Intermediate (WTI) crude oil futures were at $51.93 per barrel, down 43 cents, or 0.8 per cent. The shares of Vakrangee were trading 5 per cent higher after an investigation by the Ministry of Corporate Affairs (MCA) into the accounts and operations of the company, has found no irregularity in matters pertaining to the resignation of its auditor, abnormal trading in the company’s stock, among other issues.

At 9:23 hours, the BSE SENSEX was at 36197.79 down by -15.12 points or by -0.04 per cent and then NSE Nifty was at 10848.55 down by -6.6 points or by -0.06 per cent.

The top gainers of the BSE Sensex pack were Tata Motors Ltd. (Rs. 185.50,+1.31%), NTPC Ltd. (Rs. 147.55,+0.96%), Tata Motors Ltd. (Rs. 97.80,+0.88%), Oil And Natural Gas Corporation Ltd. (Rs. 146.80,+0.86%), ITC Ltd. (Rs. 293.00,+0.79%), among others.

The top losers of the BSE Sensex pack were IndusInd Bank Ltd. (Rs. 1573.50,-1.71%), Asian Paints Ltd. (Rs. 1391.70,-0.80%), Axis Bank Ltd. (Rs. 665.00,-0.75%), Housing Development Finance Corporation Ltd. (Rs. 1981.00,-0.62%), HCL Technologies Ltd. (Rs. 934.65,-0.58%), among others.

Sectorally, BSE Realty index was at 1873.27 up by 11.14 points or by 0.6%. Sobha Ltd. (Rs. 489.10,+1.98%), Housing Development & Infrastructure Ltd. (Rs. 28.60,+1.24%), DLF Ltd. (Rs. 184.00,+1.10%), Oberoi Realty Ltd. (Rs. 460.25,+0.85%), Indiabulls Real Estate Ltd. (Rs. 88.55,+0.74%). On the flip side, BSE Bankex index was at 31051.56 down by -114.93 points or by -0.37%. IndusInd Bank Ltd. (Rs. 1573.50,-1.71%), Axis Bank Ltd. (Rs. 665.00,-0.75%), Kotak Mahindra Bank Ltd. (Rs. 1235.40,-0.28%), State Bank of India (Rs. 304.35,-0.23%), HDFC Bank Ltd. (Rs. 2112.10,-0.19%).

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 1085 , shares advanced were 653 while 378 shares declined and 54 were unchanged.