Sensex Opens Marginally Lower; M&M Dips 6% Post March Quarter Results

Asian stock markets are trading on a negative note today as investors continue to weigh inflation risks and the strength of the economic recovery.

The Hang Seng is down 0.5% while the Nikkei is trading lower by 1%. The Shanghai Composite is trading down by 0.2%.

In US stock markets, Wall Street indices climbed on Friday as investors brushed off a stronger-than-expected inflation reading.

The tech-heavy Nasdaq added 0.1% but was down 1.5% for the month. The decline snapped a six-month-long winning streak.

Meanwhile, the Dow Jones Industrial Average rose 0.4%.

Stock markets in the US and UK are closed today for a holiday, but US stock futures are still trading in Asia with the Nasdaq up 0.2% and S&P 500 ahead by 0.1%.

Back home, Indian share markets have opened on a negative note, following the trend on SGX Nifty.

Market participants will track Aurobindo Pharma share price and Chemcon Specialty Chemicals share price as these companies will announce their March quarter results later today.

On the macroeconomic front, GDP data for the March quarter is slated to be out today, along with the core sector data for April.

The BSE Sensex is trading down by 64 points. Meanwhile, the NSE Nifty is trading lower by 18 points.

ITC is among the top gainers today. M&M, on the other hand, is among the top losers today.

The BSE Mid Cap index has opened up by 0.4%. The BSE Small Cap index is trading on a flat note.

Sectoral indices are trading on a mixed note with stocks in the metal sector and telecom sector witnessing buying interest.

Automobile stocks and IT stocks, on the other hand, are trading in the red.

Shares of Heidelberg Cement and Redington hit their 52-week highs today.

The rupee is trading at 73.05 against the US$.

Gold prices are trading up by 0.1% at Rs 48,606 per 10 grams.

1 2 3
View single page >> |

Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.