Share Market Tips - Market Nifty trade flat with positive bias; Lupin falls 5% on USFDA observations
The share price of Central Bank of India touched a 52-week low of Rs 25.35, falling more than 8 percent after the company's net losses increased in the quarter ended March 2019. Shares of Mahindra Holidays and Resorts India fell nearly 3 percent on May 16 after the hospitality company reported a 62.6 percent YoY slump in net profit in the fourth quarter ended March 31. Indian indices opened on a positive note on Thursday on the back of mixed global cues.
The Sensex is up 57.54 points at 37172.42, while Nifty is up 15.50 points at 11172.50. About 389 shares have advanced, 232 shares declined, and 40 shares are unchanged.
J&K Bank, JSW Steel, Tata Steel, Vedanta, Tata Chemical, Tata Motors, and Tata Global are among major gainers on the indices, while Indiabulls Housing, BPCL, L&T, Coal India, ITC, HDFC Bank, Manappuram Finance are among major losers.
On the sectoral front, buying seen in the metal, IT, auto and PSU banking stocks. Benchmark indices are trading flat in the pre-opening session.
At 09:01 hrs IST, the Sensex is down 4.23 points at 37110.65, and the Nifty up 49.20 points at 11206.20. The Indian rupee opened higher at 70.27 per dollar on Thursday versus previous close 70.34. Wall Street turned positive on Wednesday following reports that US President Donald Trump would hold off on imposing tariffs on imported cars and parts, easing slowdown fears after downbeat economic data.source- money control
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