Nifty opens below 10,800 mark; Infosys gains 2.5%

The market breadth was negative with 991 shares advancing, 519 shares declining, and 542 remaining unchanged.

Jan 14, 2019 04:01 IST India Infoline News Service

National Stock Exchange
Equity benchmark indices opened lower for the third consecutive session. Heavy selling pressure was witnessed in HDFC, Reliance Industries, ITC, and ICICI Bank.

The Sensex was down 167 points at 35,842, while the Nifty down 57 points at 10,738. The market breadth was negative with 991 shares advancing, 519 shares declining, and 542 remaining unchanged.

The Indian rupee opened marginally lower at 70.50/$ against the greenback.

Shares of Infosys gained over 2.5% after the IT company on Friday reported a PAT decline of 12.2% qoq to Rs3,610cr against the median consensus estimate of Rs4,149cr. It approved a Rs8,260cr share buyback, which is the second buyback in less than 13 months' time.

Shares of Avenue Supermarts fell on the back of weak results for the December quarter. The company’s adjusted net profit stood at Rs257cr, up 2.1% yoy and 13.9% qoq.

Infosys, HPCL, IOC, BPCL, and Eicher were the top gainers on the Nifty50, while Bharti Airtel, M&M, Vedanta, Axis Bank, and ITC were trading in the red.

Volatility index India VIX is up 5.95% to 16.26.

The Indian rupee opened flat at 70.42/$ vs. Thursday's close of 70.41.

The most active stocks were TCS, Yes Bank, Axis Bank, Infosys, and HDFC.

Asian stock markets opened lower on Monday as investors awaited a series of earnings, and the January rally in risky assets showed signs of abating. The yuan edged lower after recent gains. 

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