BSE Sensex opens flat; Up 32 points

BSE Sensex opens flat; Up 32 points

BSE Sensex opens flat; Up 32 points

The S&P 500 and the Dow slipped on Monday as the United States tariffs signed into law last week weighed on industrials, while gains in tech stocks boosted the Nasdaq to a new record high. The 30-share index dropped 166.17 points or 0.49 per cent to 33,690.61.

The Sensex has so far touched a high of 34,077.32 points and a low of 33,790.09 points during the intra-day trade. Vinod Nair, head of research, Geojit Financial Services Ltd, said, "Inflation is expected to come down to 4.74% in February which will ease bond yield in the near term".

On the other hand, Maruti Suzuki India (0.99%), Axis Bank (0.95%), State Bank Of India (0.82%), I C I C I Bank (0.77%), NTPC (0.35%), and H D F C Bank (0.29%) were the major gainers in the Sensex.

Yes Bank rose 1.7 percent after it acquired over 17 percent stake in Fortis Healthcare in view of default by promoter group companies.

PNB shares ended higher at 3.59 per cent to Rs 98 on hopes of settlement of fraud dues.

It was followed by the auto (up 335.17 points), metal (up 325.30 points), oil and gas (up 321.28 points), capital goods (up 228.70 points) and FMCG (up 219.37 points) indices.

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The index finally settled 21.04 points or 0.06 per cent lower at 33,835.74.

Industrial production data for January, retail inflation or inflation data based on CPI and inflation data based on Wholesale Price Index (WPI) for February will be released this week.

Bucking the trend BSE small-cap index rose by 1.14 per cent and mid-caps gained 1 per cent as retail investors raised their bets. Despite, better-than-estimated consumer price inflation eased traders fears of near-term interest rate hikes by the Reserve Bank of India (RBI).

In Asia, Hong Kong's Hang Seng was down 0.16 per cent, Japan's Nikkei fell 0.16 per cent and China's Shanghai Composite index slipped 0.17 per cent in early trade.

In the Eurozone, Paris CAC 40 rose 0.32% while Frankfurt's DAX up 0.36% in early deals.

This is unedited, unformatted feed from the Press Trust of India wire.

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