Sensex Trades Flat; Reliance Steady Ahead Of Q2 Numbers

Business

oi-Sunil

By Sunil Fernandes

Published: Friday, October 16, 2015, 9:31 [IST]

Indian markets opened the day marginally higher as most Asian markets rallied in trade after solid gains in the US, but, fell marginally and were trading in the red.

Worse than expected data from the US, has propelled global markets on hopes that the US Fed would not hike interest rates in 2015.

The Sensex was trading with losses of points 36 points at 26,973 points, while the Nifty lost 12 points in trade. Leading the set of gainers from the Nifty were stocks like State Bank and Wipro.

Reliance Industries was trading higher ahead of its results to be declared later today. Shares in MindTree jumped 4 per cent following a good set of results reported by the company. It declared results after market hours on Thursday.

Shares in Tata Motors rallied after the company reported a 21 per cent jump in global vehicles sales. Bharti Airtel and ITC were the biggest losers from the Nifty in trade.

DCB Bank which fell a huge 33 per cent in two trading sessions, managed to gain ground and was up 5 per cent in trade.

Midcap stocks were trading flat, though gains were seen in stocks like DHFL and Century Textiles. DLF was down almost 3 per cent after reports that Sebi has moved the Supreme Court, seeking a restraint order on the plans of realty major DLF to monetise its rental properties.

Meanwhile, the rupee was marginally weak at 64.91 to the dollar.

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