share market Last part of yesterday's trading in Indian currency markets
Uncertainties arising out of Brexit negotiations, fear of escalation of US-China trade war after arrest of Huawei CFO, softening global crude prices are some of the major developments overnight. Last part of yesterday's trading in Indian currency markets was overshadowed by softening oil prices. Today could be a mixed day where USD-INR pair can trade in a range of 70.40-70.60/$. However, opinion poll results will have some impact as and when published," Bhaskar Panda of HDFC Bank told CNBC-TV18.Benchmark indices extended gains amid volatility ahead of five states elections exit polls due later in the day.
The 30-share BSE Sensex was up 194.57 points at 35,506.70 and the 50-share NSE Nifty rose 34.60 points to 10,635.80. GAIL India shares fell 4.5 percent in morning after global research house feels upcoming quarterly results for the company may be quite weak.
The reason it cited for weak earnings expectations is the US LNG arbitrage which may stay negative through 2019.
Hence, CLSA slashed price target for GAIL to Rs 420 from Rs 465 earlier, but maintained buy call.At 09:17 hrs IST, the Sensex is up 165.44 points or 0.47% at 35477.57, and the Nifty up 37.10 points or 0.35% at 10638.30. About 465 shares have advanced, 128 shares declined, and 28 shares are unchanged.
IOC, HPCL, Hindalco, M&M, Dr Reddy's Lab, Vendata, ICICI Bank, Bajaj Auto and Sun Pharma are among major gainers on the indices, while HCL Tech, Yes Bank, Tata Motors, Gail India are trading lower.
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