Sensex, Nifty turn cautious amid negative signals from other Asian markets
Business | December 14, 2018 9:55 ISTInvestors were also on edge ahead of RBI central board meeting under new Governor Shaktikanta Das, traders said.
Investors were also on edge ahead of RBI central board meeting under new Governor Shaktikanta Das, traders said.
Other losers include Sun Pharma, TCS, Tata Steel, Adani Ports and Coal India, falling up to 2 per cent.
According to traders, investor sentiment on Dalal Street was positive on expectation that new RBI Governor Shaktikanta Das would work more closely with the government.
The rupee appreciated by 24 paise to 70.66 against the US dollar in intra-day trade amid weakness in the greenback against some currencies overseas.
The 30-share Sensex was trading 152.48 points, or 0.43 per cent, higher at 35,464.61. The index plunged 572.28 points, or 1.59 per cent, to close at 35,312.13 on Thursday.
Oil prices extended losses ahead of the crucial Opec meeting. Brent crude, the international benchmark, was trading 1.82 per cent lower at USD 59.74 per barrel.
It touched an intra-day high of 35,707.23 and a low of 35,355.70 so far.
The market sentiments were also impacted by uncertainty over the longevity of recently enforced US-China trade truce as well as RBI policy meet outcome on Wednesday.
Market is also in wait-and-watch mode ahead of the outcome of the Reserve Bank of India's fifth bimonthly monetary policy meeting for 2018-19.
The Sensex of the BSE opened at 36,396.69 from its previous close at 36,194.30 on Friday.
On the macro front, the rupee depreciated 15 paise to 71.02 against the US dollar in early trade at the interbank foreign exchange.
This is the highest closing since October 17, when it had closed at 34,779.58. The gauge had risen 119 points in Thursday's trade.
The BSE 30-share Sensex after resuming a tad higher at 34,846.90 quickly slipped into the negative zone to touch a low of 34,672.20, largely in sync with global sell-off.
The 30-share index gained 207.21 points, or 0.59 per cent, to 35,158.13. It had lost near 61 points Monday.
Investor sentiment turned positive after the Finance Ministry issued a statement to dampen concerns over a spat between the government and the central bank.
On year-on-year basis, ICICI Bank, however, reported a 42 per cent drop in its consolidated net profit to Rs 1,204.62 crore in the September 2018 quarter.
Most Asian markets skidded to multi-month lows and European shares opened sharply lower on worries over corporate earnings and global growth.
The rupee depreciated to 73.82 (intra-day) against the US dollar, which too had a negative influence.
The index had lost 847 points in the previous two sessions on liquidity concerns as well as weak global cues.
Meanwhile, the Reserve Bank on Friday announced more steps to increase liquidity flows to the non-banking financial companies.
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