Sensex, Nifty Down Marginally; Metal Stocks In Demand

RTTNews | 259 days ago

(RTTNews) - Indian shares turned in a mixed performance in early trading on Monday as investors looked for direction amid a lack of positive cues from global markets.

The mood remains cautious with investors reacting to some corporate news.

The benchmark BSE Sensex was down 116.70 points or 0.14% at 84,924.75 a few minutes ago, while the broader Nifty50 of the National Stock Exchange was down 25.80 points or 0.1% at 26,016.50.

Adani Ports & Special Economic Zone drifted lower by about 1.55%. Power Grid Corporation shed nearly 1%, while TCS, HCL Technologies, Baja Finserve, Reliance Industries, Axis Bank, State Bank of India and Bajaj Finance slipped by 0.4 to 0.7%

Shriram Finance, Jio Financials Services, Coal India, HDFC Life and Eicher Motors also showed weakness.

Tata Steel climbed 2.7%. Hindustan Copper soared nearly 15% to Rs 545.95, hitting a fresh record high. Shares from the materials sectors are rising thanks to firm metal prices amid hopes of more monetary easing by the Federal Reserve.

Eternatl gained about 1.2%, while Tech Mahindra and Titan moved up nearly 1% over their previous closing levels.

Hindalco, Nestle Industries, Grasim Industries, ONGC, Tata Motors Passenger Vehicles, Bajaj Auto and BEL posted moderate gains.

Punjab National Bank opened notably lower at Rs 116.35 this morning after the bank reported a fraud of over Rs 2,000 to the RBI.

The case involves the loan accounts of SREI Equipment Finance (Rs 1,241 crore) and SREI Infrastructure Finance (Rs 1,193 crore). The bank has fully provisioned for these outstanding accounts, as disclosed in its stock exchange filing. The stock recovered subsequently and was down just 0.3% a little while ago.

NBCC is up more than 2%. The state-run company said on Friday that it will receive a 21.23-acre land parcel in south Delhi as its share following the settlement of a dispute with the Delhi government, and will develop a mixed-use real estate project on this site with an estimated revenue of about Rs 8,500 crore.

Coforge rost to Rs 1,715 in early trading before paring some gains. The stock was up 0.8% at Rs 1,686 a little while ago. The company announced that it has opened a new tab to acquire artificial intelligence firm Encora at an enterprise value of $2.35 billion to boost in-house AI capabilities and expand presence in the U.S. and Latin America.

The market breadth was weak. On BSE, 2,262 stocks drifted lower, while 1,594 stocks moved up and 240 stocks remained flat.

Australian Market Trims Early Slight Losses In Mid-market

The Australian stock market is trimming its early slight losses in mid-market trading on Monday, snapping a four-session losing streak, despite the broadly positive cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is moving up to near the 8,750.00 level, with gains in energy, financial and technology stocks.

RTTNews | 1h 23min ago

Asian Markets Trade Mostly Lower

Asian stock markets are mostly lower on Monday, despite the broadly positive cues from Wall Street on Friday, amid surging crude oil prices after the critical East-West pipeline was shut by Saudi Arabia following drone attacks and talks between Iran and the GCC about a possible reopening of the Strait of Hormuz were postponed. The pipeline provided an alternative route around the Strait of Hormuz.

RTTNews | 1h 35min ago

Thai Stock Market: Support Expected At 1,600 Points

The Thai stock market has moved lower in three straight sessions, sinking more than 15 points or 0.9 percent along the way. The Stock Exchange of Thailand now sits just above the 1,600-point plateau although it may halt its slide on Monday.

RTTNews | 2h 50min ago

Japanese Market Sharply Lower

The Japanese stock market is sharply lower on Monday, extending the losses in the previous session, following the broadly positive cues from Wall Street on Friday. The Nikkei 225 is falling below the 63,050 level, with weakness in index heavyweights and technology stocks partially offset by gains in financial stocks.

RTTNews | 3h 14min ago

Indonesia Stock Market Poised To Open To The Upside On Monday

The Indonesia stock market has finished lower in three straight sessions, surrendering almost 150 points or 2.4 percent in that span. The Jakarta Composite Index now rests just above the 6,540-point plateau although it's expected to open higher on Monday.

RTTNews | 3h 20min ago

Hong Kong Stock Market May Stop The Bleeding On Monday

The Hong Kong stock market has moved lower in four straight sessions, sliding more than 800 points or 3.2 percent along the way. The Hang Seg Index now sits just above the 24,800-point plateau although it's expected to open in the green on Monday.

RTTNews | 3h 35min ago

Australian Markets Slightly Higher

The Australian stock market is slightly higher in choppy trading on Monday, snapping a four-session losing streak, despite the broadly positive cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is moving above the 8,750.00 level, with gains in energy, financial and technology stocks.

RTTNews | 3h 44min ago

China Stock Market May Reclaim 3,900-Point Level

The China stock market has finished lower in back-to-back sessions, contracting more than 60 points or 1.5 percent in that span. The Shanghai Composite Index now sits just beneath the 3,890-point plateau although it's likely to open to the upside on Monday.

RTTNews | 3h 50min ago

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