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Opening Bell: Sensex, Nifty trade flat, Infosys, TCS top gainers

Opening Bell: Sensex, Nifty trade flat, Infosys, TCS top gainers

Opening Bell: Sensex, Nifty trade flat, Infosys, TCS top gainers
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By Ajay Vaishnav  Aug 20, 2019 9:56:09 AM IST (Published)

The BSE Sensex opened at 37,441.75 on Tuesday, while the NSE Nifty50 started at 11,063.90.

Indian shares edged up after a flat start on Tuesday amid optimism that the Narendra Modi government may announce measures to propel economic growth. Trade sentiment remained favourable as Asian shares also extended gains amid stimulus hopes and easing concerns about a global recession.

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The BSE Sensex opened at 37,441.75 on Tuesday, while the NSE Nifty50 started at 11,063.90. The Sensex was up 86.62 points, or 0.2 percent, to 37,489 at 9.20 am. The Nifty was up 18.60 points, or 0.2 percent, to 11,072.50.
Broader markets were under pressure with the Nifty MidCap down 0.14 percent in initial trade. Among sectors, FMCG and metal were falling, while buying seen in auto, infra, IT and pharma indices.
Mahanagar Gas, Zee entertainment, Infosys, M&M, HDFC Bank, TCS are among major gainers on the indices, while losers include Britannia, Yes Bank, JSW Steel, IOC, Bharti Infra, Coal India, Tata Motors and ICICI Bank.
Meanwhile, the Indian rupee opened lower
against the US dollar a day after it closed at over 6-month low, as growing worries over an economic slump and a stronger American unit weighed on risk appetite. The home currency opened at 71.51 after its Monday’s close of 71.43 against the greenback.
Foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out Rs 305.74 crore on Monday, according to provisional exchange data.
In debt markets, the yields on the 10-year government bonds were up 0.21 percent to 6.60 percent from its previous close of 6.59 percent. Bond yields and prices move in opposite directions.
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