Stock Market: Sensex, Nifty trade lower, Indian Rupee slips by 24 paise

The stock markets opened negative on the first trading day of the week. The S&P BSE Sensex opened at 34,971.83 and the Nifty50 at 10,524.20 in today’s morning. The Sensex 30-share traded at 34,719.64, down 13.94 points or 0.04 percent, while the 50-share Nifty was at 10,471.35, with a loss of 1.15 points or 0.01 percent.

According to the report 27 stocks in the Nifty50 traded with losses. Losing between 1.26 and 2.29 percent, Hindustan Petroleum, Hindustan Unilever, Asian Paints, ICICI Bank and Mahindra and Mahindra were among the top five Nifty losers of the day.

The Hindustan Unilever is down by almost three percent even as the firm reported a 20 percent jump in Q2 net profit at Rs 1,525 crore. The volume growth had beaten expectations.

On Friday, the Sensex had ended 732 points higher at 34,733 while the Nifty had settled at 10,472, up 237 points.

Asian shares slipped on Monday as worries over Sino-US trade disputes, a possible slowdown in the Chinese economy and higher US borrowing costs tempered optimism despite a rebound in global equities late last week.

Not helping the mood, oil prices jumped and Saudi Arabian shares plunged on rising diplomatic tensions between Riyadh and the West after the monarchy warned against threats to punish it over the disappearance of a Saudi journalist.

The Indian rupee has also slipped in the early trade on Monday. It has opened lower by 24 paise at 73.80 per dollar on Monday versus Friday closure at 73.56.

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