Sensex rises over 100 points, Nifty above 10600

Sensex rises over 100 points, Nifty above 10600

At 10:00, indices extended losses, with the Sensex falling 100.91 points to 34,515.73 and the Nifty declining 36 points to 10,578.40.

It had gained 201.06 points in the previous two sessions. At 09:18 am, the S&P BSE Sensex was trading 29.43 points lower at 34,587.21.

This is published unedited from the PTI feed.

Among sectoral sub-indices, pharma rallied the most at 1.5 per cent while metal lost nearly 0.80 per cent.

Global markets were weak today as a rise in U.S. bond yields to 3 per cent and warnings from bellwether USA companies of higher costs drove fears that corporate earnings growth may peak soon.

The gainers included Yes Bank, M&M, Adani Ports, ICICI Bank, L&T, HDFC, Bajaj Auto, Dr Reddy's and ONGC.

On the other hand, shares of Bharti Airtel fell 0.94 per cent and IDFC Bank dropped 0.10 per cent, ahead of their Q4 results scheduled to be announced Tuesday.




Among other Asian markets, Japan's Nikkei was up 0.67 per cent, while Hong Kong's Hang Seng index rose 1.20 per cent in early trade. U.S. stocks ended lower on Friday, as weakness in technology and consumer staples shares offset the latest batch of corporate earnings, which largely continued to beat expectations.

Market breadth was negative with 1,080 advances against 1,341 declines.

TCS shares gained as much as 4.6 percent to hit a record high of 3,557.90 rupees.

Global oil prices hit their highest levels since late 2014 due to expectations of renewed U.S. sanctions against Iran and as OPEC continued withholding supplies amid strong demand.

Hindalco, Nalco, Vedanta and Jindal Steel were among major losers in the BSE metal index, diving up to 8 percent.

Foreign institutional investors sold scrip worth Rs 680.99 crore, while the domestic institutional investors purchased stocks worth Rs 508.55 crore, provisional data with the exchanges showed.

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