STOCK MARKET NEWS
Shares have begun the week on a positive note, with the Nifty trading eyeing 10,800-mark.
Shares have begun the week on a positive note, with the Nifty trading eyeing 10,800-mark.
The Sensex is up 46.03 points or 0.13% at 35489.70, and the Nifty up 15.50 points or 0.14% at 10783.20. The market breath is positive as 393 shares advanced, against a decline of 151 shares, while 60 shares are unchanged.
Among sectoral indices, pharma, metals and IT stocks are trading higher, while midcaps, too, are seeing good gains.
Dr Reddy’s Labs, Adani Ports, Bajaj Finance and HCL Tech are the top gainers, while ICICI Bank, HUL, and Axis Bank have lost the most.
Asian stocks moved gingerly as a weekend G7 summit fanned trade conflict fears after US President Donald Trump backed out of a joint communique in a blow to the group’s efforts to show a united front.
Trump’s reversal, announced while he was en route to Singapore for a meeting with North Korean leader Kim Jong Un, sent his Group of Seven partners scrambling.
“The G7 meeting in Canada reiterated the growing rift between Washington and its allies over free trade,” wrote Tai Hui, chief market strategist for Asia Pacific at J.P. Morgan Asset Management.
“Business confidence, and subsequently capital spending, is at risk if this tension continues through the summer,” he said, adding that central bank meetings will be critical events this week.
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