Sensex Opens Flat; Asian Markets Trade Subdued

Business

oi-Sunil Fernandes

By Sunil Fernandes

Published: Thursday, July 14, 2016, 9:41 [IST]

Benchmark indices opened the day flat, even as Asian markets were trading subdued with the Japanese Nikkei trading higher, while the Hong Kong and Strait Times were marginally lower in trade.

The Sensex was trading with losses of 20 points, while the Nifty opened the day with losses of 10points.

Tata Consultancy was trading lower ahead of its results to be declared later today in the evening. The stock was down 0.7 per cent.

Omkar Speciality was higher despite reports that the promoter group had sold a stake in the company.

Cera Sanitaryware was down despite a sharp increase in its net profits. The stock was down 0.5 per cent in trade.

Shares in NALCO surged a huge 4 per cent after reports that the company had received an approval for the Pottangi Bauxite Mines, where the company's 22,75,000-tonne lumina refinery is located.

Banking stocks were very subdued in trade with Bank of India among the only gainers. The stock was among the big losers in trade on Wednesday. State Bank of India and HDFC Bank were among the early losers in trade.

Shares in Infosys was trading marginally higher ahead of its results o be declared later today. Meanwhile, the rupee opened at 67 to the dollar. Analysts expect very little movement from the currency in the coming days.

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