The benchmark indices opened the day higher on strong cues from the global markets. Sensex and Nifty after making new records during the opening session has erased initial gains and are down; Sensex is at 38259.01 or lower -26.74 (-0.07%).
Nominal gains in the heavyweights such as ITC, HDFC, Axis Bank and HDFC Bank provided rally to the stock markets. Also good quarterly numbers for the FY 19 have been another trigger
Navneet Education buzzed in trade today after its board approved buyback offer. Among the biggest Sensex gainers in trade today are stocks such as Power Grid, HUL, HDFC,M&M and TCS.
Pharma and FMCG sector emerged as big gainer today while pressure mounted over bank and auto stocks.
Asian markets traded lower as new tariff on China now become applicable and the trade situation between the US and China poses heightened threats.
Meanwhile, the US stock market has now a new feather in its cap with the longest ever bull run.
Rupee also was trading at 70.06 per dollar down by 0.33% against previous session closing.
Gold also gained support from US President statements and Fed Reserve likely rate hike in the month of September.