Market Live: Sensex down around 100 points, Nifty below 10,950; Sun Pharma up 3%

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Weakness is visible among automobiles, banks, energy, IT and metal names, while Nifty Pharma index is trading higher.

Buzzing: Share price of Prabhat Dairy surged 20 percent in the early trade on Tuesday after company board approved the sale of its stake in step down subsidiary.

Market opens It’s a negative start to the market on Tuesday morning, with the Sensex falling around 100 points. The Nifty is below 10,950-mark. 

Weakness is visible among automobiles, banks, energy, IT and metal names, while Nifty Pharma index is trading higher. Gains in Sun Pharma are leading the charts for Nifty Pharma. The Nifty Midcap index is down around 0.25 percent. 

The Sensex is down 98.12 points or 0.27% at 36480.84, while the Nifty is lower by 35.90 points or 0.33% at 10926.00. The market breadth was narrow as 209 shares advanced, against a decline of 178 shares, while 38 shares were unchanged.

Sun Pharma and Kotak Mahindra Bank are the top gainers, while Axis Bank, M&M, Hindalco, and TCS lost the most. 

Share Market Tips

Rupee Opens: The Indian rupee opened marginally higher at 71.22 per dollar on Tuesday versus 71.28 Monday.

Market at pre-open: Indian indices are trading flat in pre-opening session with Nifty is below 10,950 level.

The Sensex is up 19.51 points at 36598.47, while Nifty is down 14.20 points at 10947.70.

Sun Pharma is down 10 percent, while Kotak Mahindra Bank is up 2 percent in the pre-opening trade.

Dollar update: The dollar hovered near 2-week highs against its peers on Tuesday as a slowdown in China’s economy to 28-year lows fanned fresh worries over global growth and prompted investors to move into safe-haven currencies.

Crude Update: Oil prices edged lower on Tuesday as concerns over global economic growth stoked fears over future demand.

SGX Nifty: Trends on SGX Nifty indicate a flat opening for the broader index in India, a fall of 6.5 points or 0.06 percent. Nifty futures were trading around 10,956-level on the Singaporean Exchange.

Asian markets trade lower: Asian shares and US stock futures slipped on Tuesday amid signs of pessimism about world growth, while sterling dithered as the latest plan for Brexit appeared to come and go with no progress.

MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.1 percent but was still within striking distance of a seven-week top touched the previous day

Disclaimer:- The views and investment tips expressed by investment experts are their own. Ripples Advisory advises users to check with certified experts before taking any investment decisions.

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