Markets open flat in early trade
17/05/2018 09:22
The key domestic benchmark indices opened flat in the morning trading session amid mixed trend among Asian peers.

The traders will keep a close eye on the political development in Karnataka as fortunes of BJP hang in balance.

On the economy front, total investments via participatory notes (P-notes) into Indian capital markets plunged to a 9-year low of Rs 1 lakh crore in April amid stringent norms by the Securities and Exchange Board of India.

Also, for the first time, the Reserve Bank of India’s Monetary Policy Committee (MPC) will meet for three days in June for the second bi-monthly policy review instead of the usual two days.

Also, JSW Steel, Tata Steel shares will be in focus after their Q4 performance beat estimates.

At 09:20 a.m, the Bombay Stock Exchange bellwether Sensex was at 35401.43 up by 13.55 points or by 0.04 per cent, while the NSE Nifty was at 10749.50 up by 8.40 points or by 0.08 per cent.

The top gainers of the BSE Sensex pack were Tata Steel Ltd. (Rs. 630.70,+1.39 per cent), Bajaj Auto Ltd. (Rs. 2843.80,+1.27 per cent), State Bank of India (Rs. 245.00,+0.76 per cent), Infosys Ltd. (Rs. 1198.90,+0.74 per cent), ITC Ltd. (Rs. 288.00,+0.72 per cent), among others.

Meanwhile, NTPC Ltd. (Rs. 168.10,-0.88 per cent), Axis Bank Ltd. (Rs. 546.00,-0.61 per cent), Sun Pharmaceutical Industries Ltd. (Rs. 470.10,-0.37 per cent), Tata Motors Ltd. (Rs. 183.00,-0.27 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 435, shares advanced were 269 while 145 shares declined and 21 were unchanged.



On the global front, Asian stocks were trading mixed, while the Wall Street closed higher in the previous trading session led by gains in Retail and technology stocks.