LIVE market updates: Losses in IT stocks offset gains in banking, metal and auto sharesDomestic stock markets gave up early gains amid a selloff in information technology stocks, ahead of the release of official inflation data.
The S-P BSE Sensex index first climbed as much as 160.01 points to touch 38,287.09, and then declined 220.96 points from that level to hit 38,066.13 on the downside in morning deals.
The broader NSE Nifty benchmark moved in a range of 61.95 points between 11,352.00 and 11,290.05 at the strongest and weakest levels of the session respectively.
Losses in information technology stocks offset gains in banking, metal and auto shares.
The NSE's India Vix index - which gauges the market's expectation of volatility in the near term - rose as much as 4.80 per cent.Shares in other Asian markets pushed higher amid optimism about the US-China trade talks.
MSCI's broadest index of Asia Pacific shares outside Japan was last seen up 1.20 per cent.
Last Friday, Wall Street clocked sharp gains with the Dow Jones Industrial Average ending 1.47 per cent higher and the S-P 500 gaining 1.09 per cent.IRCTC Makes Bumper Market DebutShares of Indian Railway Catering and Tourism Corporation (IRCTC) made a bumper stock market debut on Monday.
IRCTC shares opened for trading at Rs 644 on the BSE, marking a gain of 116.48 per cent over their issue price of Rs 320.
(Read more on IRCTC shares here)Infosys Shares Fall Over 4% After Q2 EarningsShares in Infosys, the country's second largest IT company, fell as much as 4.25 per cent to Rs 781.00 apiece on the BSE.At 10:21 am, Infosys shares traded 2.97 per cent lower at Rs 791.45on the bourse, underperfomring the benchmark Sensex index which was up 0.25 per cent at 38,221.93.Sensex Falls Over 200 Points From Days HighThe stock markets gave up early gains as a selloff in information technology shares deepened.
The Sensex fell as much as 220.96 points from its intraday high of 38,287.09 to hit 38,066.13on the downside.
The Nifty moved in a range of 61.95 points, declining to as low as 11,290.05 after hitting 11,352.00 at the strongest level in morning deals.Sensex Rises Over 100 Points, Nifty Firm Above 11,300At 9:19 am, the S-P BSE Sensex index traded 142.80 points - or 0.37 per cent - higher at 38,269.88while the broader NSE Nifty benchmark was at 11,336.45, up 31.40 points - or 0.28 per cent - from its previous close.
Top percentage gainers on the 50-scrip index at the time were Tata Motors, Vedanta, IndusInd Bank, Sun Pharma and SBI, trading between 1.32 per cent and 3.05 per cent higher.HDFC Bank, ITC, Axis Bank and SBI contributed the most to the gains in Sensex.Sensex Opens 81 Points Higher, Nifty Starts Day At 11,336The S-P BSE Sensex index opened 81.16 points - or 0.21 per cent - higher at 38,208.24.
The broader NSE Nifty benchmark started the session at 11,335.90, up 30.85 points - or 0.27 per cent - from its previous close.Last Friday, the S-P BSE Sensex index had risen 246.68 points - or 0.65 per cent - to end at 38,127.08 and the broader NSE Nifty benchmark settled at 11,305.05, up 70.50 points - or 0.63 per cent - from its previous close.DMart Shares In Focus Today After Q2 Profit Jumps 48%DMart or Avenue Supermarts shares will be in focus today, after the company reported a 47.54 per cent increase in its net profit to Rs.
322.66 crore in the quarter ended September 30.Avenue Supermarts - which owns and operates supermarket chain DMart - said its revenue from operations stood at Rs.
5,990.78 crore in July-September, as against Rs.
4,892.81 crore in the corresponding period a year ago.Birlasoft Signs $240-Million DealBirlasoft, part of The CK Birla Group, signed a have signed a multiyear agreement with Invacare Corporation to provide ITasaservice solutions to the US-based company, which manufactures wheelchairs, bariatric equipment, disability scooters, respiratory productsand other homecare products.Birlasoft will accelerate Invacare's business transformation by modernizing systems, taking responsibility for the provision of service desk, applications, server, network and telephony support, it said in a regulatory filing.The company said it would will build a new analytics platform and move the Invacare data center to the cloud.Sensex, Nifty Rise In Pre-Open MarketThe S-P BSE Sensex rose as much as 242.88 points - or 0.64 per cent - to touch 38369.96in the pre-opening session.
At 9:03 am, the Sensex was up 15.17 points - or 0.04 per cent - at 38,142.25 while the broader NSE Nifty benchmark was up 69.55 points - or 0.62 per cent - at 11,374.60.Official Inflation Data Due TodayThe government will release data on wholesale inflation (Wholesale Price Index) around noon and retail inflation (Consumer Price Index) at 5:30 pm today.
The Reserve Bank of India (RBI) tracks consumer inflation primarily for formulating its monetary policy.The central bank has reduced the repo rate by 135 basis points - or 1.35 percentage point - so far this year.HUL To Report Earnings Today; Wipro, Reliance Industries Results This WeekFast-moving consumer goods major Hindustan Unilever will report its quarterly earnings on Monday.
Other large caps due to release their earnings this week include Wipro, Reliance Industries, TVS Motor Company and Ambuja Cements.Last Thursday, Tata Consultancy Services (TCS) reported a net profit of Rs 8,042 crore for the July-September period, missing analysts' estimates.Infosys Shares To Be In Focus TodayInfosys shares will trade for the first time today after the country's second largest IT services exporter reported its earnings for the second quarter of the current financial year.
Last Friday after market hours, Infosys reported a net profit of Rs 4,037 crore for the quarter ended September 30, matching analysts' estimates, and raised the low end of its revenue forecast for the year.Asian Shares Gain On US-China Trade OptimismAsian shares pushed higher amid optimism about the US-China trade talks.
MSCI's broadest index of Asia Pacific shares outside Japan was last seen up 1.20 per cent.
Last Friday, Wall Street clocked sharp gains with the Dow Jones Industrial Average ending 1.47 per cent higher and the S-P 500 gaining 1.09 per cent.On Friday, US President Donald Trump announced a partial trade deal with China that could be signed within weeks.
The deal covers agricultural purchases, currency and some aspects of intellectual property protections, and it averted a tariff hike scheduled for next week, though there was no mention of tariffs set to rise in December.SGX Nifty Futures Indicate Lower Opening For Domestic MarketsDomestic share markets are likely to open lower today as indicated by the Singapore Exchange (SGX) Nifty futures.
At 8:30 am, the SGX Nifty futures - an early indicator of the National Stock Exchange (NSE) Nifty index in India - traded 5.50 points - or 0.05 per cent - lower at 11,303.50.