Markets Open in Red, Sensex Down at 33,324, Nifty at 10,283 - JPKee.com

Mumbai, November 20: Key Indian equity domestic indices- BSE Sensex and NSE Nifty opened in red during early morning trade on Monday. Sensex was down by over 18 points or 0.06% at 33,324.04 while the wider Nifty was down at 10,283.05. The Indian rupee opened marginally higher at 64.97 per dollar on Monday against 65.01 on Friday. In the pre-opening session on Monday, Sensex was up over 100 points while Nifty topped 10,300 level.

On Friday, domestic equity market ended the week on a high buoyed by India’s ratings upgrade by global rating agency Moody’s where Sensex closed over 235 points or 0.71% at 33,342.80 and the wider Nifty ended over 68 points or 0.67% at 10,283.60. Cipla, ICICI Bank, HDFC, Tata Steel, State Bank of India, Sun Pharma and Tata Motors were the top gainers in the Sensex index. On the contrary, Infosys, Tata Consultancy Services, Wipro, Oil & Natural Gas Corporation and Asian Paints were among the top losers.

In the last week, markets ended on a mixed note with benchmark Sensex registering a modest rise of 28.24 points, end at 33,342.80, while Nifty closed with a minor loss of 38.15 points to conclude 10,283.60. The key benchmark indices declined in three out of five trading sessions of the week.

As per reports by PTI, the selling in the last week was triggered as posibility of the central bank cutting interest rates next month, dampened after India’s inflation picked up in October. Domestic investors turned cautious giving more weight to slowdown in IIP to 3.8 percent, bogged down by geopolitical tensions in the Middle-East and rally in crude oil prices.

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Author - Vikash Kumar