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Equity Tips

Nifty extends losses, Sensex falls over 100 pts; Reliance, ITC weigh

Equity benchmarks started off Monday's trade on a negative note, tracking weakness in Asian peers.

The 30-share BSE Sensex was down 81.81 points at 29,339.59 and the 50-share NSE Nifty fell 27.45 points to 9,080.55. About 620 shares advanced against 381 declining shares on the BSE.

Coal India and Aurobindo Pharma were top losers, down 2-3 percent followed by Reliance Industries, ITC, Hero Motocorp, Sun Pharma, Idea Cellular and Eicher Motors.

However, ICICI Bank, Grasim Industries, Power Grid Corporation, Dr Reddy's Labs, Bajaj Auto, SBI and GAIL were gainers.

The Indian rupee gained in the early trade. It has opened higher by 14 paise at 65.28 per dollar versus 65.42 Friday.

"Considering 10-year bond as well as equity market movement, we are of the view that rupee will trade sideways in a range of 65.20-65.50/dollar."

Asia markets were mostly lower after US President Donald Trump suffered a legislative defeat last Friday when Republican leaders pulled a bill to overhaul the US health care system with the dollar weaker and gold prices up.

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