Sensex Below 36,500, Nifty Loses 11,000 Level; FMCG, IT Stocks Buck Trend
The domestic stock markets opened the first day of the week on Monday on a slightly negative note following weak global cues. The S&P BSE Sensex opened at 36,658.71 while the Nifty 50 started at 11,018.95, before extending their losses. At 9:43 am, the Sensex was at 36,463.55, with a loss of 78.08 points or 0.21 per cent while the broader Nifty50 was at 10,979, down 39.90 points or 0.36 per cent. Thirty one out of 50 Nifty stocks traded in the green.
The top losers in the 50-share Nifty pack were Dr Reddy's Laboratories (down 7.46 per cent), ICICI Bank (down 2.86 per cent), Sun Pharma (down 2.77 per cent), Lupin (down 2.69 per cent), Reliance Industries (down 2.20 per cent). Infosys, which reported its June quarter profit at Rs 3,612 crore on Friday, was trading 0.49 per cent higher at Rs 1,339.00, up 1.64 per cent.
Asian shares were lower on Monday after data from China showed the world's second-largest economy slowed slightly in the second quarter, and as investors remain cautious over the impact of the heated Sino-US trade war. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.4 per cent, according to a report by news agency Reuters.