Indices erase early gains; Nifty below 11,700, Sensex up 100 points
It is a positive start for the Indian indices on May 24 after Election 2019 results gave a clear mandate to the BJP led NDA government.
At 09:16 hrs IST, the Sensex is up 348.76 points at 39,160.15, while Nifty is up 114.40 points at 11771.40. About 464 shares have advanced, 124 shares declined, and 20 shares are unchanged.
HDFC Bank, IOC, HPCL, BPCL, Yes Bank, Kotak Mahindra Bank, Yes Bank, IndusInd Bank, L&T, Asian Paints, Axis Bank, RIL, Bajaj Finance are the major gainers on the indices, while losers are ONGC, Bharti Infratel, Bajaj Auto, Tech Mahindra, and HCL Tech.
All the sectoral indices are trading in green led by bank, infra, auto, energy, metal, and pharma. Indian indices are trading higher in the pre-opening session with Nifty above 11,750 level.
At 09:01 hrs IST, the Sensex is up 64.57 points or 0.17% at 38875.96, and the Nifty up 102.70 points or 0.88% at 11759.70. Asian shares hobbled near four-month lows on Friday and crude oil plunged on worries the US-China trade spat was developing into a more entrenched strategic dispute between the world's two largest economies, pushing investors to safe-haven assets.
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