Sensex and Nifty pared opening gains and turned on flat at mid-market hours amid strong Asian markets. Around 11.00 am, the NSE Nifty trade at 10,526-levels down 0.20 points while Sensex trade at 35,005-levels up 24 points.
Bharti Airtel, Zee Entertainment, Asian paints were among major gainers, while Yes bank, ONGC and Tech Mahindra were among major losers. YES Bank is trading near 5% lower at this time as promoters’ monetize some stake through structured deal.
Nifty Auto, Nifty IT, Metal and Pharma were trading in the red, while Nifty media, Nifty PSU Bank and Nifty FMCG trade higher. The Nifty IT Index was down 1.52%, dragged mainly by Tech Mahindra, Infosys and HCL Tech.
Shares of oil marketing and Airlines companies climbed in Monday’s morning session after Brent crude oil fell below its key level of USD 60 per barrel.
Shares of IT companies fell today as the Indian rupee rose for the eighth consecutive session and hit a 3-month high.