Stock Trading Tips- Sensex, Nifty pare gains as IT, pharma stocks drag; IOC, BPCL shares up
Share market LIVE updates: Sensex, Nifty pare gains as IT, pharma stocks drag; IOC, BPCL shares up; Zee dips 3%
Share market updates: Sensex and Nifty trimmed early morning gains to trade on a flat note in the mid-morning trade deals on Wednesday tracking weak Asian markets and heavy selling pressure tracking in IT, media, pharma and realty stocks. Oil marketing companies and aviation shares were trading higher tracking lower crude oil prices.
Sensex and Nifty trimmed early morning gains to trade on a flat note in the mid-morning trade deals on Wednesday tracking weak Asian markets and heavy selling pressure tracking in IT, media, pharma, and realty stocks. Oil marketing companies and aviation shares were trading higher tracking lower crude oil prices.
The stock market had started on a higher note riding on a strong rupee, falling crude prices and healthy buying in blue-chip stocks. The Sensex opened over 120 points higher, while the NSE Nifty 50 opened above the 10,600-level. The rupee opened at 72.1575 per US dollar, appreciating 51 paise from its previous close at 72.6725 against the greenback.
In the global markets, Asian shares edged lower as investors fretted about slowing global growth with crude oil prices sinking on worries about weakening world demand and oversupply, said a Reuters report. Oil prices struggled for traction on Wednesday after sinking on worries about weakening world demand and oversupply, while global shares sagged with slowing growth concerns overshadowing potential positives such as progress in the Brexit saga.
Among the last of the Nifty companies, Grasim and Mahindra & Mahindra (M&M) are expected to come out with their quarterly earnings today. Other mid-cap companies that will declare their earnings today are Page Industries, Motherson Sumi Systems, Pfizer, Indian Hotels, IPCA Laboratories, Rain Industries, United Breweries, Ujjivan Financial Services, Apollo Hospitals, CESC, Thermax, Future Retail and Gujarat Fluorochemicals.
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