Stock Market: Sensex, Nifty Erase Friday Gains In Monday Morning Trade

On the 30-share Sensex platform, Titan, M&M, Sun Pharma, and SBI were some of the early gainers. On the downside, HDFC Bank, Nestle, Axis Bank, and Reliance emerged as some of the losers.

Among individual stocks, HDFC Life Insurance, Mahindra & Mahindra, Bharat Petroleum Corporation, and Cipla Limited turned up as the biggest gainers among the Nifty50.

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The two key equity benchmarks, Sensex and Nifty, opened in red on Monday. The indexes erased their gains slightly in early trade. The BSE Sensex opened almost 200 points lower at 67,665.58, while the NSE Nifty50 opened at 20,155.95, down by more than 30 points. 

At 9.50 am, the BSE Sensex was trading at 67,722.41, down by 116.22 points. On the other hand, the NSE Nifty50 index was trading at 20,171.60, down by 20.75 points.

On the 30-share Sensex platform, Titan, Tata Motors, M&M, Sun Pharma, and State Bank of India were some of the early gainers. On the downside, HDFC Bank, Nestle, Axis Bank, and Reliance emerged as some of the losers. Among individual stocks, HDFC Life Insurance, Mahindra & Mahindra, Bharat Petroleum Corporation, and Cipla Limited turned up as the biggest gainers among the Nifty50. While HDFC Life and M&M registered gains over 2 per cent, BPCL and Cipla stocks witnessed an increase over 1 per cent.

#ABPLiveStockMarketWatch | Indian equity benchmarks opened in the negative on Monday early trade
At 09:52 AM, #Sensex fell by 93 points to 67,746 & #Nifty by 17 points to 20,176

Here's a look at the stocks in focus:#StockMarket #StockMarketPrices #Trading #Stock pic.twitter.com/gE0IkZehUJ

— ABP LIVE (@abplive) September 18, 2023

In the broader markets, the Nifty Smallcap 100 and Nifty Smallcap 50 indices rose by 0.24 and 0.47 per cent respectively. 

Sectorwise, Nifty PSU Bank led the indices with gains over 2 per cent. Nifty Healthcare, Pharma, and Auto also registered gains, while IT, Private Bank ,and Financial Services were some of the indices trading in loss.

In the previous session on Thursday, the S&P BSE Sensex ended at a record 67,838.63, while the NSE Nifty50 settled at an all-time high of 20,192.35.

Global oil benchmark Brent crude climbed 0.82 per cent to $94.47 a barrel. The rupee appreciated 7 paise to open at 83.09 against the US dollar in early trade on Monday, weighed down by a downward trend in equities, increased crude oil prices, and a strong American dollar. The domestic unit closed at 83.15 (provisional) after depreciating 12 paise on Friday against the American currency. On Friday, the rupee was trading in a narrow range. It opened at 83.02 against the dollar. It touched a low of 83.07 against the American currency in initial trade, down 4 paise from its previous close.