Ways2Capital Reviews : Indices Off Opening Highs; HDFC Bank, TCS Stocks Down

Benchmark equity indices opened higher on Monday tracking positive clues from global markets. HDFC Bank pulled the Nifty Bank index down by 75 points.

The Reserve Bank of India will commence its 3-day Monetary Policy Committee today to decide the key policy rate.

On the sectoral front, pharma, auto, financial services, media and metal stocks continued to support the market, while realty index declined over 0.65%.

At 9:40 PM, the BSE Sensex at 35,323 was up by 96 points, while NSE Nifty at 10,707 was higher by 11 points.

BSE Midcap is trading higher by 0.7% and BSE Smallcap slipped by 0.48%, respectively.

Dr. Reddy's stock gained 3% after Srikakulam plant was cleared by the U.S. health regulator.

Dr. Reddy’s (+3.4%), Tech Mahindra (+1.9%), HPCL (+1.5%), Yes Bank (+1.4%) and IndusInd Bank (+1.3%) were the top gainers.

UltraTech (-1.7%), HDFC Bank (-1.6%), Adani Ports (-1.2%), Indiabulls HF (-1.1%) and Asian Paints (-1.1%) were the top losers.

Out of 2,041 stocks traded on the NSE, 659 advanced, 890 declined and 492 remained unchanged today.

The Indian rupee opened higher by 10 paise at 66.96 per dollar versus 67.06 Friday.

Asian indices opened in the green lead by the Japanese Nikkei, which was trading up over 275 points in early trade.

US indices rally strongly on Friday as jobs growth beats estimates and optimism on higher growth returns. Oil price fall adds to bullish sentiment with bond yields steady at 2.9% even as US Dollar holds ground. 

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About Bhoomi Desai