Nifty struggles below 10,000, midcaps in the red; GAIL, HPCL, BPCL, IOC dip
Benchmark indices opened flat amid weak global cues on trade war fears, after nearly 2 percent loss seen in previous week.
The 30-share BSE Sensex was down 11.99 points at 32,584.55 and the 50-share NSE Nifty was down 6.55 points at 9,991.50.
Tata Steel, Adani Ports, Yes Bank, ONGC, Indiabulls Housing, Adani Ports, Cipla, Sun Pharma, Aurobindo Pharma and ICICI Bank gained up to 2.5%
BPCL, HPCL, ITC, Kotak Mahindra Bank, Coal India, Tata Motors, Axis Bank and Dr Reddy's Labs were under pressure.Nifty Midcap was up 28 points.
Indiabulls Real Estate, Tata Power, Cadila Healthcare, Bhushan Steel and Gujarat Gas gained up to 6 percent.
Autoline Industries is enjoying Industrial Promotion Subsidy(IPS) for mega project under Package Scheme of Incentive 2007 of Government of Maharashtra (VAT/CST Subsidy) for its 1 unit situated at Chakan since from 2009.
Cipla USA, Inc. announced the launch of an authorised generic version of Aloxi in the United States under applicable agreements with Helsinn Healthcare SA, in response to the at-risk launch by Teva.
ICICIDirect said Nifty rollovers were at 22.1 percent, lower than the 3-month average of 24.56 percent ahead of expiry week.
Marketwide rollovers were at 22.8 percent compared to the 3-month average of 20.44 percent.
The rupee strengthened by 10 paise to 64.91 against the US dollar at the interbank forex market on sustained selling of the greenback by exporters and banks amid foreign capital inflows.
Dealers said dollar's weakness against a basket of currencies supported the domestic unit.
On Friday, the rupee had gained 10 paise to end at 65.01 against the US currency which suffered losses in global markets on intensifying trade war worries.
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