Mumbai, India (BBN)- Stock markets continue to trade in a choppy manner as Sensex slips 22 points to 27,908 and Nifty jumps 0.05 per cent or 4 points to 8,629.
10:56 a.m.: IT stocks witness selling pressure ahead of US Presidential elections next week, The BSE IT index was down 1 per cent; Infosys, TCS, Tech Mahindra, Wipro, KPIT Cummins, Cyient and OFSS were among the laggards, reports NDTV.
10:28 a.m.: Stock markets continue to trade in a choppy manner. Sensex slips 22 points to 27,908 and Nifty jumps 0.05 per cent or 4 points to 8,629.
9:32 a.m.: Sensex and Nifty edged higher in morning deals but were trading in a choppy manner owing to weakness in select FMCG, IT and banking shares.
As of 9:30 a.m., Sensex was down 23 points or 0.08 per cent at 27,907 and Nifty was up 0.01 per cent or 1 point at 8,626.
Analysts say that the gains were capped as investors were on sidelines ahead of US Presidential Elections due next week and outcome of US Federal Reserve meeting due tomorrow.
Meanwhile, from the Nifty basket of shares, 31 were advancing while 20 were declining.
Hindalco was the top Nifty gainer, up 2.4 per cent at Rs 153. Bharti Infratel, HDFC, Eicher Motors, Bosch, Hero MotoCorp, Tata Steel, Bajaj Auto and Adani Ports and SEZ were also among the gainers.
On the other hand, ONGC was the top Nifty loser, down 1 per cent. Tech Mahindra, Infosys, Kotak Mahindra Bank, Hindustan Unilever, Axis Bank, ACC, Cipla, TCS, Tata Motors, Sun Pharma and ICICI Bank were also among the laggards.
On the sectoral front, selling pressure was seen in select IT, FMCG, capital goods, banking, oil & gas and auto shares.
The broader markets were also trading on a subdued note. The BSE mid-cap index was up 0.01 per cent while the small-cap index was down 0.11 per cent.
8:49 a.m.: Sensex and Nifty are set to open on a positive note in trades today tracking gains on Nifty futures traded on the Singapore Exchange.
The Nifty futures traded on the Singapore Exchange also known as the SGX Nifty was up 30 points of 0.35 per cent at 8,634.
Meanwhile, other Asian markets were trading on a mixed note. Hong Kong's Hang Seng advanced 1.4 per cent while China's Shanghai Composite was up 0.26 per cent and Japan's Nikkei was trading on a flat note.
Analysts said that investors are cautious ahead of US elections which is due next week and US Federal Reserve meeting which starts today.
Overnight, Wall Street ended barely changed on Monday as investors digested the latest large-scale corporate mergers as well as the most recent twist in a tumultuous U.S. presidential election.
Stocks were jolted Friday by disclosure that the FBI was investigating more emails as part of a probe into Hillary Clinton's use of a private email system, injecting fresh uncertainty over the Democratic candidate's presumed lead in the presidential election over Republican rival Donald Trump.
The Dow Jones industrial average fell 18.77 points, or 0.1 per cent, to 18,142.42, the S&P 500 lost 0.26 points, or 0.01 per cent, to 2,126.15 and the Nasdaq Composite dropped 0.97 points, or 0.02 per cent, to 5,189.14.
Back home, foreign institutional investors sold shares worth Rs 107 crore while domestic institutional investors bought shares worth Rs 13 crore in Sunday's special trading session.
Reliance Capital will be in focus today as the company's realty lending business will be demerged into Reliance Home Finance.
Oil & gas shares will also be on investors' radar after prices of non-subsidised LPG were hiked by Rs 37.50 per cylinder.
BBN/AI/ANS