Ripples Advisory, Market Live: Sensex continues to trade higher, Nifty around 10,650; Ambuja Cements down 1%
Bharti Airtel, Axis Bank, Hindalco and Mahindra & Mahindra were the top gainers, while Wipro, NTPC, Lupin and HPCL lost the most. Infosys is also trading over 1 percent higher.
India’s 10-year benchmark bond rallied early on Monday taking comfort from the central bank’s unexpected announcement last week about purchase of sovereign bonds via open market operation.
The 10-year benchmark bond yield opened at 7.60 percent, sharply lower from its Friday close of 7.73 percent. However, traders expect some pullback in the rally as the amount of bonds to be bought by the Reserve Bank of India is too little and too late, they said.
Soon after a disappointing sale of government bonds on Friday, the RBI said it will buy 100 billion rupees ($1.50 billion) of government bonds on May 17.
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Shares of Vakrangee were locked in 5 percent lower circuit after it has come under the radar of SEBI after auditor PwC has raised some concerns.
It has touched an intraday high of Rs 81.50 and an intraday low of Rs 81.50.
Auditing major Price Waterhouse quit audit mandate of technology firm Vakrangee, flagging concerns to the corporate affairs ministry about the books of accounts, mainly related to its bullion and jewellery business, even as the company denied any irregularities.
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