Sensex Opens Flat, Nifty Above 17,500; Key Points


Sensex Today: The benchmark Sensex and Nifty indices started on a tepid note on Monday morning after a rough close on Friday. At 09:16 IST, the Sensex was up 9.07 points or 0.02 per cent at 58849.86, and the Nifty was up 20.40 points or 0.12 per cent at 17551.20.

Broader markets, too, edged lower in trade as Nifty SmallCap 100 and Nifty MidCap100 declined up to 1 per cent.

Barring Nifty PSU Bank, all sectors nosedived in negative territory. Nifty Media, Nifty Pharma, and Nifty Realty indices dropped the most – up to 1 per cent.

While Bajaj Finserv, Infosys, Axis Bank, helped trim losses for the benchmark indices; HCL Technologies, Asian Paints, Dr Reddy’s, Titan, contributed to the sharp cuts.

Among individual stocks, shares of ONGC gained 1 per cent in a volatile market after the company sought to scrap windfall profit tax levied on domestically produced crude oil from the government.

Besides, shares of Granules India gained over 2 per cent after the company plans to launch their Rs 250 crore share buyback offer on September 27.

Global Cues

Share markets idled in Asia on Monday as investors braced for a week littered with 13 central bank meetings that are certain to see borrowing costs rise across the globe and some risk of a super-sized hike in the United States.

US stocks ended in the red on Friday, falling to two-month lows as a warning of impending global slowdown from FedEx hastened investors’ flight to safety at the conclusion of a tumultuous week.

Oil prices climbed during early Asian trade on Monday as a weaker dollar and supply concerns ahead of the European Union embargo on Russian oil in December offset fears of a global recession that could dampen fuel demand.

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