Stock markets: In the early trade, the 30-share BSE Sensex climbed 88.94 points to 74,421.52. Meanwhile, the Nifty was also up by 41.10 points to 22,593.60.
Stock markets update: Equity benchmark indices opened higher in early trade on Monday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 88.94 points to 74,421.52. Meanwhile, the Nifty was also up by 41.10 points to 22,593.60.
A look at sectoral performance
Sector-wise, the mood remained mixed. On the downside, Nifty Auto slipped 0.57%, followed by Consumer Durables with a 0.40% drop, and Healthcare marginally lower by 0.03%. In contrast, Nifty Media led the gainers, surging 0.96%, followed closely by Metal stocks (up 0.91%), FMCG (up 0.67%), Financial Services (up 0.58%), and Realty (up 0.60%).
Market sentiment is expected to remain sensitive to progress in trade negotiations between India and the United States. Investors are closely watching developments after US President Donald Trump stated on Friday that India has agreed to “cut their tariffs way down.” Additionally, foreign institutional investor (FII) activity and trends in global markets will also play a crucial role in shaping the direction of the indices in the coming sessions.
Rupee against dollar
The rupee saw a steep plunge of 30 paise to 87.25 against the US dollar in early trade on Monday as the American currency started recovering from six-month low level while trade-related uncertainties weighed on investor sentiment. A subdued domestic equity market and uninterrupted outflow of foreign funds also put pressure on the local unit, though it found some support due to easing crude oil prices, forex traders said.
At the interbank foreign exchange, the rupee opened weak at 87.24 amid intense volatility and touched the low of 87.34 before trading at 87.25 against the greenback in early deals, down 30 paise from its previous closing level.
(With inputs from PTI)
