Sharemasterindia.com 9:35 a.m.: Selling pressure gathered pace in the morning session as most of the sectors were trading with a negative bias. Banking, technology, capital goods, metal, auto and FMCG indices were quoting in the red.
The Sensex fell 100 points to 28,361 and Nifty was down 33 points at 8,576.
9:25 a.m.: The Sensex and Nifty edged lower in the opening deals. The Sensex fell 28 points to 28,434 and Nifty fell 16 points to slip below its crucial psychological level of 8,600 on the back of selling in banking and technology stocks.
Meanwhile, the broader markets were also trading on a cautious note. The BSE mid-cap index was up 0.17 per cent and the small-cap index jumped 0.07 per cent.
From the Nifty-50 basket of stocks, 28 were declining while 22 were advancing.
ACC was the top Nifty loser, down 3 per cent to Rs 1,441 after the company reported dismal set of first quarter numbers.
UlteaTech Cement, Tata Power, HDFC, BHEL, Punjab National Bank, Infosys, Kotak Mahindra Bank and Bank of Baroda were also among the losers, down 0.6-2 per cent each.
9:18 a.m.: Markets choppy in early trade; Sensex slips 20 points, Nifty below 8,600.
9:12 a.m.: TS Harihar of HRBV Client Solutions says the sharp rally in markets is devoid of fundamentals. Nifty to trade in 8,500-8,650 range.
9:10 a.m.: Sensex jumps 81 points to 28,544 and Nifty gains 14 points to 8,624 in the pre-market session.
9:05 a.m.: G Chokkalingam of Equinomics Research says that tyre stocks can move 15-20 per cent higher from current levels as rubber prices are likely to fall further. Sharp correction in oil prices and expectation of oil prices remaining low after the Iran deal will be beneficial for the Tyre companies, adds Mr Chokkalingam.
9:03 a.m.: G Chokkalingam of Equinomics Research says that not worried about happenings in parliament as most of the reforms have been implemented by the government.
9:00 a.m.: Rupee opens lower at 63.55/dollar against Friday's close of 63.46.
8:35 a.m.: CLSA has maintained its buy call on Tata Motors for target price of Rs 600 per share. CLSA says that stock pricing is in an extremely pessimistic scenario and JLR has multiple buffers in China. CLSA expects price to improve once volume growth recovers.
