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Sensex, Nifty open flat; Sun Pharma, Infosys, SBI top gainers

BusinessToday.In     December 24, 2018

The Sensex and Nifty opened flat today as Asian markets were mostly lower on Wall Street slump amid partial US government shutdown. While the Sensex rose 15 points to 36,361, Nifty was up 3 points to 10,757.

Top Sensex gainers were  Sun Pharma (1.39%), Infosys (1.32%) and SBI (0.93%).

Hero MotoCorp (2.44%),  HCL Tech (1.14%) and Vedanta (0.99%) were the top Sensex losers.

Top sectoral losers were consumer durables stocks with the BSE consumer durables index falling 0.65% and BSE auto (0.14%).

Banking stocks were  the top gainers with BSE bankex rising 0.51% to 30,175 level.

Meanwhile, the mid cap and small cap indices were trading 0.23% and 0.11% higher in early trade.

Market breadth was marginally positive with 782 stocks trading higher compared to 602 falling on the BSE.

On a net basis, foreign portfolio investors (FPIs) bought shares worth Rs 134.14 crore on Friday, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 488.55 crore, provisional data available with BSE showed.

Global markets

Asian stocks were mostly lower with light trading on Monday as a Wall Street slump and a partial US government shutdown stemmed holiday cheer.

South Korea's Kospi dropped 0.2 percent to 2,058.19 while the Shanghai Composite index rose 0.1 percent to 2,519.71. Hong Kong's Hang Seng lost 0.7 percent to 25,572.50. Australia's S&P ASX 200 added 0.2 percent to 5,475.90. Stocks fell in Taiwan and Singapore. Markets in Japan, Indonesia and the Philippines were closed.

The US market ended its worst week in more than seven years on Friday, with major indexes plunging 7 percent. They've given up more than 12 percent in December. Sentiment was dampened by a range of factors, including expectations for slower US growth and the country's long-running trade dispute with China.

The S&P 500 index slipped 2.1 percent to 2,416.62 and the Dow Jones Industrial Average was down 1.8 percent at 22,445.37. The Nasdaq composite tumbled 3 percent to 6,332.99. The Russell 2000 index of smaller-company stocks lost 2.6 percent to 1,292.09. All of the major indexes are 16 to 26 percent lower from their highs this summer and fall.

Edited by Aseem Thapliyal

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