Sensex slightly in red ahead of major results

Sensex slightly in red ahead of major results

Published
Hot News
1 min read
Bombay Stock Exchange (BSE). (File Photo: IANS)
Mumbai, July 29 (IANS) The Indian equity market traded in the red during the early trade on Monday ahead of key corporate earning results of ITC, Bharti Airtel, Hero MotoCorp and Axis Bank.
The performance of the sector heavy-weights will also be a cue for the investors to judge the intensity of the ongoing showdown in the economy.
At 9.54 a.m., the Sensex was trading 54.06 points lower at 37,828.73. It opened higher at 38,043.22 from its Friday's close of 37,882.79.
The broader Nifty traded 39.50 points lower at 11,244.80.
"Post the budget announcement, market participants looked completely dejected and it's clearly reflected in the price action thereafter," Sameet Chavan of Angel Broking said.
In his outlook for this week, Chavan said: "We expect stock specific action to continue and should ideally be avoiding aggressive positions. We reiterate that the ongoing decline is providing excellent opportunity to grab some of the marquee names that had seen gravity defying moves since a year and are finally undergoing some price correction."
--IANS
ravi/in

(This story was auto-published from a syndicated feed. No part of the story has been edited by The Quint.)

(The Quint is available on Telegram. For handpicked stories every day, subscribe to us on Telegram)

We'll get through this! Meanwhile, here's all you need to know about the Coronavirus outbreak to keep yourself safe, informed, and updated.

Liked this story? We'll send you more. Subscribe to The Quint's newsletter and get selected stories delivered to your inbox every day. Click to get started.

The Quint is available on Telegram & WhatsApp too, click to join.

Stay Updated

Subscribe To Our Daily Newsletter And Get News Delivered Straight To Your Inbox.

Join over 120,000 subscribers!