Sensex, Nifty Trade In Range; HPCL Up 5%

NDTV Profit Team

18 Jun 2018, 12:22 PM IST

US E-mini S&P futures were down 0.5% in early trade, suggesting a weaker start on Wall Street.

The domestic equity markets swung between gains and losses in early morning trade on Monday. At 11:10 am, the S&P BSE Sensex was at 35,649.24, up 27.10 points or 0.08 per cent while the broader Nifty50 was at 10,822.25, with a gain of 4.55 points or 0.04 per cent. In the 50-share pack, Hindustan Petroleum (up 5.76 per cent), Indian Oil Corp (up 4.96 per cent), Bharat Petroleum Corporation (up 3.30 per cent), ICICI Bank (up 3.22 per cent) and Tata Motors (up 1.77 per cent) were the top gainers.

A total of 25 stocks in the Nifty50 gained while the other 25 declined. The Nifty Private Bank index was in the green as four out of 10 stocks rose in trade. However, Nifty PSU Bank index traded with losses as nine out of 12 stocks were in the red. Thirteen out of 15 stocks in the Nifty Metal index declined.

Technical experts said that indecisiveness on Dalal Street will continue and markets may see correction. "In the current scenario, Nifty continues to unfold in to corrective pattern where indecisiveness between bulls and bears constitutes consolidation. Intermediate support is placed near 10,750 level and resistance near 10,900," said Dyaneshwar Padwal, AVP-technical analysis, KIFS Trade Capital.

(Also Read: 5 Factors That May Drive Equity Indices This Week)

Meanwhile, Asian shares fell on Monday after US President Donald Trump cranked up trade tensions by going ahead with tariffs on Chinese imports, prompting Beijing to immediately respond in kind. MSCI's broadest index of Asia-Pacific shares outside Japan skidded 0.4 per cent to its lowest level since May 31, according to a report by news agency Reuters.

Japan's Nikkei sank 0.9 per cent as worries over growing protectionism overshadowed stronger-than-expected export data.

US E-mini S&P futures were down 0.5 per cent in early trade, suggesting a weaker start on Wall Street.

On Friday, foreign portfolio investors net sold equities worth Rs. 1,524.74 crore while domestic institutional investors net purchased shares worth Rs. 5,61.01 crore, according to provisional data from the National Stock Exchange (NSE). The Sensex had closed at 35,622.14 while the Nifty50 had settled at 10,817.70. (With Reuters inputs)