Nifty hovers around 10,650 mark; Hindalco, PC Jeweller stocks gain
Benchmark indices trading higher led by ITC, Infosys, Reliance Industries, ICICI Bank and ICICI Bank.
At 10:21 AM, the BSE Sensex was trading at 35,020, up 105 points, while the Nifty50 index was trading at 10,648, up 29 points.
In the broader market, the BSE Midcap marginally higher by 0.05%, while the BSE Smallcap up 0.21%.
Shares of PC Jeweller zoomed 25% on the BSE. The board will hold a separate meeting on May 10, 2018, to consider the buyback of its fully paid equity shares.
BASF stock fell 5% after the company reported March quarter earnings. EBITDA or operating profit declined 18% to Rs100cr.
Hindalco (+2.4%), Bajaj Auto (+1.7%), Bharti Airtel (+1.7%), Vedanta (+1.5%) and Axis Bank (+1.4%) were the top gainers on Nifty50.
Lupin (-3.7%), Sun Pharma (-1.9%), Dr Reddy’s (-1.8%), HPCL (-1.6%) and Cipla (-1.6%) were the top losers in today’s trade.
Market breadth, indicating the overall health of the market, turned positive. On the NSE, 634 shares declined, 954 shares gained while 452 shares remained unchanged.
Asian markets saw a mixed opening with the Japanese Nikkei seeing weakness after opening from week-long holidays, while the rest of the region saw gains.
On the global front, US oil prices rose above $70 a barrel on Monday for the first time since November 2014, as a deepening economic crisis in Venezuela threatened the country’s already tumbling oil supplies.
The Indian rupee opened marginally higher and gained by 4 paise at 66.82 per dollar vs 66.86 Friday.