Both the key Indian indices ended in the green on Monday, following economic reforms and higher global equity markets.
Advertisement
On the other hand the broader 51-scrip Nifty at National Stock Exchange (NSE) opened at 8,255.40 points after closing at 8,238.50 points.
The 30-share barometer declined by 82.52 points or 0.31 per cent to 26,784.40 in early trade.
The sensex registered intra day high and low at 26,925.64 and 26,776.16 points respectively. However, the downside is limited due to buying demand among auto shares.
Marketmen said some big domestic institutions could have been pressed into buying to check the losses, as turnover was relatively higher in early morning trades for a Monday.
The rupee’s pullback from day’s low of 67.68 per dollar was helped by the Reserve Bank’s reported intervention to curb the volatility in the currency, traders said.
The Nifty and the Sensex wiped off their initial losses as investors discounted the surprise decision of the RBI Governor Raghuram Rajan (to return to academia after the end of his term) and moved on.
In overseas markets, most Asian stocks rose in early trade as rising expectations of Britain voting to remain in the European Union lifted risk sentiment.
Meanwhile, RBI bought government’s securities worth Rs 10,000 crore via OMO purchase auction held on June 20, while the total amount offered by participants stood at Rs 45,922 crore.
In overseas trade, oil prices extended gains in Asia on the back of a weaker USA dollar and easing fears of UK’s exit from the European Union.
Overall, out of the 30-share Sensex pack, 18 scrips rose.
Advertisement
Sectoral indices led by banking, capital goods, FMCG, teck and consumer durables were trading in the negative zone, falling up to 0.44 per cent.
