NEW DELHI: Domestic benchmark indices opened on a flat note on Thursday, after surging past the 39,000-mark in the previous session, ahead of April F&O expiry.
Asian markets remained lackluster as a surprise deterioration in German business morale rekindled fears of slowing global growth, while oil prices pulled back slightly after a sharp run-up earlier in the week. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.2 per cent, while Japan's Nikkei average edged up ..
Moreover, the rupee moved below the 70/dollar mark, its weakest since March 11, which capped gains for the market.
Shares of Maruti Suzuki edged down over 1 per cent ahead of Q4 numbers as brokerages estimate the company is likely to post a fall in net profit for the third straight quarter.
At the same time, share of Axis Bank traded marginally higher. Brokerages are of the view that the Private lender is likely to swing back into the black in March quarter on the back of strong loan growth and lower provisioning for bad loans.
At around 9:30 am, BSE sensex was up 28 points or 0.07 per cent at 39,083 while NSE Nifty traded near the 11,750 mark at 11,745, up 18.60 points or 0.16 per cent.
"Going ahead, we believe faster retracement of recent corrective phase (11,856–11,565) would reinstate the bullish momentum and set the stage for next leg of up move. Failure to do so would lead to prolonging of consolidation in the broader range of 11,850–11,550 amid stock specific action as Q4FY19 earnings season accelerates ..
Asian markets remained lackluster as a surprise deterioration in German business morale rekindled fears of slowing global growth, while oil prices pulled back slightly after a sharp run-up earlier in the week. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.2 per cent, while Japan's Nikkei average edged up ..
Moreover, the rupee moved below the 70/dollar mark, its weakest since March 11, which capped gains for the market.
Shares of Maruti Suzuki edged down over 1 per cent ahead of Q4 numbers as brokerages estimate the company is likely to post a fall in net profit for the third straight quarter.
At the same time, share of Axis Bank traded marginally higher. Brokerages are of the view that the Private lender is likely to swing back into the black in March quarter on the back of strong loan growth and lower provisioning for bad loans.
At around 9:30 am, BSE sensex was up 28 points or 0.07 per cent at 39,083 while NSE Nifty traded near the 11,750 mark at 11,745, up 18.60 points or 0.16 per cent.
"Going ahead, we believe faster retracement of recent corrective phase (11,856–11,565) would reinstate the bullish momentum and set the stage for next leg of up move. Failure to do so would lead to prolonging of consolidation in the broader range of 11,850–11,550 amid stock specific action as Q4FY19 earnings season accelerates ..
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