INSUBCONTINENT EXCLUSIVE:
Share Market on Monday: IT stocks, were however, positive with a gain of 0.36% on weak rupee.The domestic stock markets extended their
weakness even after the government announced measures to address the fall in the rupee amid high crude oil prices
At 9:32 am, the 30-share Sensex traded at 37,751.92, with a loss of 338.72 points, or 0.89 per cent
The 50-share Nifty was at 11,415.15, down 100.05 points or 0.87 per cent
The top five Sensex losers were Axis Bank, Asian Paints, State Bank of India, Tata Motors, and HDFC Bank which lost between 1.42 and 1.87
Banks and financial stocks led the declines.The Nifty PSU Bank index was down 1.87 per cent, Nifty Bank 1.32 per cent and Nifty Financial
Services 1.39 per cent.IT stocks, were however, positive with a gain of 0.36 per cent on weak rupee.Technical experts expect weakness in the
"The key benchmark index Nifty is unfolded into the corrective pattern where 11,200 can be seen as first line of defence in the proximity of
intermediate trend line," said Dyaneshwar Padwal, AVP Technical Analyst, KIFS Trade Capital.Most Asian share markets slipped amid reports
Washington was about to announce a new round of tariffs on Chinese imports, setting the stage for possible reprisals by Beijing, reported
MSCI's broadest index of Asia-Pacific shares outside Japan dropped 1 per cent, snapping three straight sessions of gains.In commodities
market, Brent crude oil futures pulled back on reports of additional tariffs, dropping 9 cents a barrel to settle at $78.09.Over the
weekend, the government decided to cut down non-essential imports, increase exports and put restrictions on masala bonds
Finance Minister Arun Jaitley was also confident that the government will meet its fiscal deficit target for financial year 2019.On Friday,
the Sensex had closed 372 points higher at 38,090 and the Nifty had risen 145 points to settle at 11,515.According to provisional data
available on the NSE, foreign portfolio investors and domestic institutional investors purchased net equities of Rs 1,090.56 crore and Rs
115.14 crore respectively on Friday
