The market trades flat after slightly recovering from the flatline for a brief period with the BSE Sensex is trading at 35,602 points and the NSE Nifty trading at 10,813 points as its global peers remain cautious of the likely US tariffs on select Chinese goods.
The market traded largely flat in the morning trade as well. The pharma stocks have helped pull up the Nifty as they gain for the fifth consecutive day.
(Above mentioned: market update as of 11:53 am)
Market update as of 11:20 am
The market is slightly recovering from the flatline as both the indices are gaining by 0.20 percent. The BSE Sensex is trading at 35,672 points and the NSE Nifty is trading at 10,832 points. The market was in check as its global peers are trading cautiously ahead of the expected announcement by US President Donald Trump on import tariffs levied on Chinese goods. Pharma stocks continue to gain for the fifth day and are among the top gainers while NTPC, Idea Cellular, HPCL, Bharti Infratel and Power Grid Corp are the top five index losers of the hour.
Market update as of 09:38am
The market was trading flat with a positive bias with the BSE Sensex trading at 35,613 points and the NSE Nifty trading at 10,817 points, recovering the 10,800 levels after briefly slipping to 10,790 points. The market was in check due to mixed global cues as investors were cautious of US President Donald Trump's announcement. Trump is expected to release a list of Chinese goods which will levy import tariffs.
The market opened in the red on Friday with the BSE Sensex at 35,538 points and the NSE Nifty at 10,794 points due to mixed global cues.
Dr Reddy's Labs was gaining more than two percent and was the top index gainer in the opening trade along with Lupin, Sun Pharma, TCS and ICICI Bank. Grasim, BPCL, Yes Bank, Hindalco, IndusInd Bank were the top index losers.
TCS was gaining more than a percent ahead of the company's board meet on the share buyback proposal.
The pharma stocks are gaining for the fifth consecutive day.
US President Donald Trump has made up his mind to impose "pretty significant" tariffs and will unveil a list targeting $50 billion of Chinese goods on Friday, an administration official said. Beijing has warned that it was ready to respond.
First Published: IST