Sensex Trades Marginally Lower; HDFC & Bharti Airtel Top Losers

Share markets in India are presently trading marginally lower. Sectoral indices are trading mixed with stocks in the IT sector and oil & gas sector witnessing maximum buying interest while realty stocks and metal stocks are witnessing selling pressure.

The BSE Sensex is trading down by 142 points (down 0.4%), while the NSE Nifty is trading down by 23 points (down 0.2%). The BSE Mid Cap index is trading on a flat note and the BSE Small Cap index is trading up by 0.3%.

The rupee recovered from the day's low point and is presently trading at 70.35 against the US$.

The rupee had posted its biggest single-day loss in three months on Monday by falling 88 paise. The rupee fell against the US$ after appreciating for three successive sessions as global crude oil prices stabilized ahead of the important OPEC meeting scheduled later this week.

Traders will closely watch the outcome of the RBI and OPEC meet policy. Reportedly, the Reserve Bank of India (RBI) is likely to keep interest rate unchanged.

Despite its recent weakness, the rupee is sharply higher from its October lows of 74.48 a dollar, helped by a moderation in oil prices. On Friday, the rupee had closed at a four-month high of 69.58 against the US dollar.

Also, speaking of the rupee, note that the Indian rupee is the worst performer in Asia in 2018.

HUL share price and GSK Consumer share price are in focus today as Hindustan Unilever Ltd (HUL) is set to merge with GSK Consumer for a transaction valued at Rs 317 billion in India's largest deal in consumer goods space.

The Indian unit of Unilever Plc will merge with GSK consumer healthcare with itself in an all-stock deal that will give the country's largest pure-play consumer goods company access to Horlicks, Boost and Maltova malted drinks brands as well as distribution rights for a five-year period over over-the-counter and oral care brands such as Sensodyne, Eno and Crocin.

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Disclosure: Equitymaster Agora Research Private Limited (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. ...

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