Market Live: Sensex, Nifty flat in opening trade; RIL gains 1% ahead of AGM
Trends on SGX Nifty indicate a flat opening for the broader index in India, a gain of 2 points or 0.02 percent. Nifty futures were trading around 10,775-level on the Singaporean Exchange.
Tata Motors under pressure: Britain's biggest carmaker Jaguar Land Rover said a so-called "hard Brexit" would cost it 1.2 billion pounds ($1.59 billion) a year, curtailing its future operations in the United Kingdom.
"We urgently need greater certainty to continue to invest heavily in the UK and safeguard our suppliers, customers and 40,000 British-based employees," JLR's Chief Executive Ralf Speth said in a statement.
Speth's comments come ahead of a meeting this Friday between Prime Minister Theresa May and her cabinet ministers to decide on strategy for Britain to negotiate its way out of the European Union, ending a 40-year trading relationship.
Because of uncertainty about what Britain actually wants from the EU after it leaves, the outcome of the cabinet meeting is seen as critical to progress in talks with the EU on the issue, reports Reuters.
Shriram Transport Finance Corporation gains 9%: The share price rebounded 9 percent after the company's clarification note on SVL loan soothed investors' sentiment. The stock had fallen 12 percent in previous session as investors had turned cautious of a guarantee of Rs 870 crore provided by the firm for its unlisted subsidiary.
Shriram Transport Finance Corporation issued clarification note yesterday, saying SVL Limited, its promoters/promoter group, and its associates, have enough resources to honour the payment of this loan whenever due and payable has reassured the same.
Market Opening: Benchmark indices are trading flat in opening trade amid weak Asian markets.
The Sensex down 4.94 points at 35640.46, and the Nifty down 1.10 points at 10768.80.
Bajaj Finserv, M&M, Yes Bank, BPCL, Hero Motocorp, UltraTech Cement, HPCL, Dr Reddy's Labs, Tech Mahindra and Lupin are early gainers.
Tata Steel, Titan Company, Idea Cellular, Bharti Airtel, Tata Motors and Bajaj Auto are under pressure.
The Nifty Midcap index fell 17 points while Nifty Bank index gained 20 points.
Bharat Forge, Force Motors, Future Lifestyle, Shriram Transport and Biocon gained up to 3 percent while Tata Coffee is under pressure.
Reliance Industries gained more than 1 per cent ahead of 41 AGM scheduled to be held today.
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