Domestic stock markets swung between gains and losses amid cautious trade on Monday. After opening higher for the day, the Sensex shed as much as 161 points to hit 35,647 in early trade. The Nifty declined as much as 47 points to touch 10,677. Losses in auto and information technology stocks dragged the markets lower however some advances in metal stocks kept the downside in check. At 9:26 am, the Sensex traded down 112 points at 35,696 while the Nifty was at 10,694, down 29 points from the previous close.
Top laggards on the Nifty at the time were Yes Bank, Coal India, TCS, HCL Tech and UltraTech Cement and Bajaj Auto, trading between 1.3 per cent and 3.6 per cent lower.
Equities in other Asian markets bounced broadly as investors dared to hope for both progress at China-US trade talks in Washington this week and more policy stimulus from major central banks.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1 per cent, recovering from a sharp fall last Friday. Japan’s Nikkei climbed 1.8 per cent to its highest level of the year so far, while Australia’s main index rose 0.7 per cent.
(With agency inputs)