NEW DELHI: The S&P BSE Sensex traded rangebound on Monday following muted trend seen in other Asian markets.

The Nifty50 pared its early morning losses and was now trading around its crucial psychological level of 7,950.

The broader market outperformed the benchmark indices with the BSE midcap and BSE smallcap indices trading higher by 0.21 and 0.53 per cent, respectively.

Among the sectoral indices, the BSE Consumer Durables and BSE Auto indices were the top gainers, up 1 per cent each while the BSE Telecom index was the top loser.

The sentiment on the Street remained positive with six of every ten BSE stocks traded in the green.

Shares of Amtek Auto slipped over 5 per cent while that of Sun Pharma were down 2 per cent in early trade. Meanwhile, IDBI bank climbed 3%, SpiceJet gained about 2 per cent.

The rupee fell by 7 paise to 66.85 against the US dollar in early trade on Monday, tracking weakness across other Asian currency markets.

The domestic currency had closed at a two-year low of 66.76 to the dollar on Friday.

Currency market investors are keenly awaiting the second quarter GDP numbers and October industrial output data scheduled for release later in the day. The Reserve Bank of India (RBI) policy review, slated for Tuesday, is also keenly awaited, even though the apex bank is largely expected to maintain status quo on the key policy rate.

Most other Asian markets traded weak ahead of key events in the week. Japan’s Nikkei was down 0.3 per cent while the South Korean Kospi was trading lower by 1.66 per cent. Hong Kong’s Hang Seng index was down 0.36 per cent. China’s Shanghai Composite traded lower by 1 per cent.

Read full article : Economic Times

By praful

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