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    Market closes negative as US-China tensions escalate; Idea Cellular gains ahead of likely nod for Vodafone merger

    Market closes negative as US-China tensions escalate; Idea Cellular gains ahead of likely nod for Vodafone merger

    Market closes negative as US-China tensions escalate; Idea Cellular gains ahead of likely nod for Vodafone merger
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    By Nidhi Chugh   IST (Updated)

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    The market trades flat with a negative bias in the second half of the session on Monday with the BSE Sensex trading at 35,590 points and the NSE Nifty trading at 10,806 points amid the trade tensions between US and China. 

    The market closed in the red with the BSE Sensex closing at 35548 and the NSE Nifty closes at 10,799 points amid the trade tensions between the US and China. The market remained volatile and traded largely flat in today's session. Idea Cellular, ICICI Bank, HPCLBPCL and Dr Reddy's Labs were the top index gainers while Vedanta, HindalcoBharti AirtelKotak Mahindra and Bajaj Finance were the top index losers.
    (Above mentioned: Closing Bell update)
    Market update as of 01:05 pm
    The market is trading rangebound, largely flat, with the BSE Sensex trading in a 50-point range at 35,561 points and the NSE Nifty trading in a 15-point range at 10,803 points. The investors seem cautious amid weak global cues. ICICI Bank, oil marketing companies, Idea Cellular and Tata Motors are the top index gainers of the hour while Vedanta, Hindalco, Tata Steel, Lupin and Coal India are the top index losers.
    What has happened in the market so far?
    Indian market was trading flat with a negative bias as the BSE Sensex hovered at 35,590 points and the NSE Nifty at 10,806 points.
    HPCLBPCLICICI Bank, Idea Cellular and Tata Motors were the top index gainers while Vedanta, Hindalco, Tata Steel, Lupin and Cipla topped index losers chart.
    The oil marketing companies were gaining in trade as the oil prices have hit their one-month low.
    ICICI Bank surged after reports of a management rejig while Idea Cellular gained as reports suggested the Department of Telecom is likely to give a conditional nod for the Vodafone merger on Monday.
    Pharmaceutical companies were seen slipping in trade after a rally in the last week.
    Vedanta lost in trade after a minor leak in its sulphuric acid storage plant was detected at its already shut down Tamil Nadu plant.
    Indian market opened flat on Monday with the BSE Sensex trading at 35,640 points and the NSE Nifty holding 10,800-levels in the midst of escalating global trade tensions.
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