Sensex, Nifty under pressure as Monday morning sees volatile session
- Wipro, HCL, Tech Mahindra and
Infosyswere the major gainers. PowerGrid, Hindustan Unilever, Reliance, Bharti Airtel and ICICI Bank were among the laggards.
- Among Asian peers, Tokyo's Nikkei 225 and China's Shanghai Composite were trading marginally higher.
Equity benchmark indices, the
In the Sensex pack, Wipro, HCL, Tech Mahindra and Infosys were the major gainers while PowerGrid, Hindustan Unilever, Reliance, Bharti Airtel and ICICI Bank were among the laggards.
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said that rising US bond yields may trigger selling from foreign institutional investors. "So, the tug of war between the bulls and the bears is likely to continue."
"Apart from positive economic cues, a major factor supporting the market is the sustained flows to the market through mutual funds... however, the frothy valuations of the broader market are a matter of concern. From the long-term perspective, safety is in large-caps," he added.
In Asia, Tokyo's Nikkei 225 and China's Shanghai Composite were trading marginally higher. Hong Kong's Hang Seng was in the red.
On Friday, European markets closed in the negative territory while the US stocks ended on a mixed note.
Global oil benchmark Brent crude declined 0.52% to USD 81.76 a barrel on Monday.
Foreign Institutional Investors (FIIs) purchased shares worth Rs 141.95 crore on Friday, according to exchange data.
On Friday, Sensex climbed 167.06 points or 0.23% to settle at 71,595.49 points while the Nifty gained 64.55 points or 0.30% to close at 21,782.50 points.
(With text input from PTI)
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