Share market today: The two key equity benchmark indices, Sensex and Nifty, on Monday pared their initial losses and were trading in the green amid volatility. The two indices were flat in the beginning tracking weak trend in global markets and foreign fund outflows. At 10.45 am, the BSE Sensex edged up by 193 points to 81,377. On the other hand, the NSE Nifty50 was trading at 24,899, up 47 points.
Stock update
On the 30-share Sensex platform, Tata Motors, NTPC, Tata Steel, PowerGrid, Adani Ports, Bajaj Finserv emerged early losers. On the flip side, HUL, ITC, Kotak Bank, ICICI Bank, TCS, HCLTech were among the gainers.
In the broader market, BSE Midcap and Smallcap indices declined 0.5 per cent each.
Sectoral update
On the sectoral front, all indices are trading in the red, except FMCG, with auto, capital goods, metal, PSU banks, oil & gas, and power down by 0.5-1 per cent.
In the previous session on Friday, the BSE Sensex plunged 1,017 points to 81,184, while the NSE Nifty 50 settled at 24,852, dropping 293 points.
"The stock markets have taken a sharp bearish turn, with sentiment shifting from optimism about cooling US inflation to concerns over a potential US economic slowdown. Friday's weaker-than-expected jobs data has reignited fears of a recession, further compounded by soft manufacturing updates," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.
"Two factors are likely to weigh on markets: one, the outcome of the US presidential elections and two, the Fed decision on rate cut," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Global update
In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong were trading lower. The US markets ended significantly lower on Friday. Japan's Nikkei bore the brunt of the early selling as a stronger yen pressured exporters, losing 2.4 per cent on top of a near 6 per cent slide last week.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 620.95 crore on Friday, according to exchange data.
Global oil benchmark Brent crude climbed 1.24 per cent to $71.94 a barrel.