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Market LIVE Updates: Indices at day’s low; Hindalco top gainer, pharma, PSU banks drag.
Stock Market LIVE Updates: Among sectors, meal index up nearly 2 percent, while selling is seen in the pharma, PSU bank, power names.
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Sensex, Nifty open flat amid mixed global cues; LIC surges 8%, Aurobindo Pharma tanks 5%
Indian shares were muted on Monday as investors awaited inflation data, due later in the day, for clues on the central bank’s interest rate trajectory and ahead of a slew of corporate earnings reports.
A Reuters poll showed economists expect retail price inflation slowed to 6.73% in October, due to weaker food price rises and a strong base year, but remained stubbornly above the Reserve Bank of India’s 6% upper limit.
In early trading, Nifty’s IT and metal indexes were among the top-performing sectors, gaining 0.9% and 1.6%, respectively. The pharma and public sector bank indexes dropped nearly 1%.
Life Insurance Corporation of India rose 7.3% on after reporting a surge in quarterly profit.
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Gold slips from 2 -1/2 month high on profit taking, hawkish fed rhetoric
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