Sensex below 36,058, Nifty below 11,100 ahead of Budget 2018

budget 2018The benchmark indices opened flat on Tuesday after touching new record highs in Monday’s trade. Investors are eagerly awaiting the govt’s last budget before the 2019 general poll that will be rolled out in Parliament on 1 February.

The BSE Sensex trades lower by 224 points to 36,058, while the NSE Nifty falls 80 points to 11,050 levels in later morning hours.

The shares of TCS, Tech Mahindra, HDFC Bank, Asian Paints, Powergrid, Adani Ports and L&T were trading down, over 1% each in the opening trade, while shares of SBI, Bajaj Auto and Hero Motocorp were trading a little higher.

Auto stocks were trading higher on Tuesday. Hero MotoCorp Ltd rose 0.63%, Bajaj Auto Ltd 0.26%, Tata Motors Ltd 0.33% and TVS Motors Ltd 0.65% while Maruti Suzuki India down 0.17%.

Major gainers emerged on NSE Nifty-50 shares include Eicher Motors, HDFC, Maruti Suzuki, Bharti Infratel, TCS, Hero MotoCorp, IOC, Indiabulls-HF, Tata Steel, Kotak Mahindra Bank, Bajaj Auto, L&T, HDFC Bank, Tech Mahindra, Sun Pharma rising by 1 to 4 percent.

30 Nov Stock Market Update: Market slips lower in early trade

Sensex nifty down Key benchmark indices slipped in the early morning trade on Thursday due to market movements seemed to have turned negative ahead of India’s GDP growth data which is due today later evening. The stocks of State Bank of India, Kotak Mahindra Bank, Axis Bank, Reliance Industries, Bharti Airtel traded in the red in early trade. 

At 10.35 am, the BSE Sensex traded lower by 252.09 points at 33,350.67, while the NSE Nifty 50 fell 76.50 points to 10,284.80.

Jewellery stocks such as Tara Jewels fell 8.3%, Gitanjali Gems fell 2.4%, PC Jeweller declined 1.8%, among others; while stocks of Healthcare Global rose 5 percent.

Shares of Bajaj Auto and Dr Reddy’s Laboratories were the major gainers on Sensex, rising up over 1 percent while State Bank of India, Axis Bank, Kotak Mahindra Bank, Reliance (RIL) Adani Ports, lost up to 1.7 percent.

Most of the Asian shares also sunk in the early morning session today after the US technology barometer index lost nearly 1 percent on Wednesday.

The rupee goes down 24 paise at 64.55 versus the US dollar in the morning ahead of the Sept quarter GDP data.