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Markets react cautiously; markets register meager rise

The markets reacted cautiously on Monday where even as the telecom stocks, Reliance Industries and ICICI Bank rallied, it was countered by slump in HDFC Group stocks, ITC and Axis Bank. Thus the 30-share BSE Sensex rose to a mere 8 points to touch 32,398.23 while the 50-share NSE Nifty touched 10,154.50.

 

The BSE Midcap index was up 0.2 percent while the BSE Smallcap index fell 0.2 percent. About 1,276 shares declined against 1,121 advancing shares on the BSE.

The rupee pared initial losses to trade up by 1.5 paise at 65.015 against the American currency in late morning trade.

 

The rupee resumed lower at 65.08 per dollar as against last closing level of 65.04 at the Interbank Forex Market. The forex market was closed on Thursday and Friday on account of Diwali holidays.

Overseas, the dollar touched a three-month high against the yen early today, with an emphatic election victory for Japan’s ruling party keeping yen-weakening stimulus measures at the heart of government policy.

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