Markets Open Flat; GST Bill, Results Key Triggers

Business

oi-Sunil Fernandes

By Sunil Fernandes

Updated: Tuesday, July 19, 2016, 9:48 [IST]

Markets opened the day almost little changed over Monday's levels, as Asian markets were quiet in trade and US markets closed almost flat.

The Japanese Nikkei was trading little changed, though shares in Softbank fell 10 per cent. The Hang Sang was trading marginally higher, while the Singapore's Strait Times was marginally lower.

The sensex was trading with gains of 41 points while the Nifty was up 13 points in trade. Shares in Hindustan Unilever fell as much as 2.57 per cent, after its results disappointed the street.

ONGC gaines after a spike in crude prices. The stock was up 1.25 per cent in trade. banking stocks were both having a quiet session in trade. ICICI Bank and State Bank were marginally up.

PSU banks were seeing some serious selling pressure with Allahabad Bank and Oriental Bank down more than 2 per cent each. Other stocks like Andhra Bank, Bank of India and Union Bank were also trading lower.

Among the Nifty stocks that fell sharply in trade were Wipro, BHEL, Bharti Airtel and Adani Ports.

Shares in Mindtree dropped a huge 6 per cent, after the company's results disappointed the street.

Shares in other IT companies like TCS and Infosys were almost little changed over Monday's levels.
Meanwhile, the rupee was trading with marginal losses at 67.23 to the US dollar.

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