For Quick Alerts
For Daily Alerts

    Markets Open 2017 Flat; Sensex Loses Early Momentum


    Indian stock indices opened the day higher, led by gains in select financials and Asian cues which were much stronger. However, there was immediate sellling pressure and the indices fell into the red.

    The Sensex was trading with losses of 34 points, while the Nifty dropped 11 points in trade.

    Markets Open 2017 Flat; Sensex Loses Early Momentum

    Shares in State Bank of India gained, after the bank said that it had cut its marginal cost of funding rates by 90 basis points. This equals to a cut of 0.90 per cent. The shares of the bank were last trading at Rs 250.50 on the NSE. Punjab National Bank too saw gains after the bank also cut its lending rates following a decision by State Bank of India.

    Shares in Maruti fell after the company reported the lowest sales since July 2016. Shares in housing finance companies were strong after the government announced a series of measure for urban housing. IndiaBulls Housing Finance was up 1 per cent, while LIC Housing Finance was also trading higher.

    Among the Nifty stocks that lost ground were Bajaj Auto, ICICI Bank, ITC and Infosys.

    Read more about: sensex nifty
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more