Market Live: Sensex, Nifty trade lower, metal stocks fall

BSE Sensex trades marginally lower, while the Nifty 50 traded below 10,200. Here are the latest updates from the markets

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  • Mumbai: Benchmark indices BSE Sensex and NSE’s Nifty 50 traded lower for the fourth straight session on Monday India’s current account deficit widened sharply driven by higher imports. The current account deficit widened to 2% of gross domestic product, or $13.5 billion, up from 1.4%, or $8.0 billion, in the corresponding period a year ago. The rupee also weakened against US dollar. Traders are now looking forward to Wednesday’s FOMC meeting for guidance on the US Federal Reserve’s rate hike path. Here are the latest updates from the markets:
  • 9.57 am ISTBanking stocks trade higherBanking stocks were trading higher. Corporation Bank 3%, Uco Bank 2.8%, IDBI Bank rose 2%, Andhra Bank 1.4%, Indian Bank 1%, Oriental Bank of Commerce 1%, Canara Bank 1%, Bank of India 1%, Union Bank of India 0.9%, Punjab National Bank 0.8%, Syndicate Bank 0.7%, Allahabad Bank 0.7%, Bank of Baroda 0.6%

  • 9.55 am ISTAshoka Buildcon declares lowest bidder for Rs1,687-crore NHAI projectAshoka Buildcon Ltd shares rose 2.3% to Rs231.15 after the company said its arm Ashoka Concessions Ltd emerged lowest bidder for NHAI’s Rs1,687-crore project.

  • 9.50 am ISTOMC shares declineOil marketing companies traded lower. Bharat Petroleum Corp. Ltd fell 2.3%, Indian Oil Corp Ltd 1.9%, Hindustan Petroleum Corp Ltd 1.5%.

  • 9.47 am ISTUS Fed to raise rates with trade tensions on horizonThe US Federal Reserve is preparing to raise key lending rate as economic conditions converge to put upward pressure on prices, including massive new tax cuts, a weaker dollar and even the threat of a trade war.

    US Fed to raise rates with trade tensions on horizon

    US Fed to raise rates with trade tensions on horizon

    Federal Reserve is preparing to raise key lending rate as economic conditions converge to put upward pressure on prices, including massive new tax cuts, a weaker dollar and even the threat of a trade…

  • 9.45 am ISTRupee weakens against US dollarThe Indian rupee on Monday weakened against the US dollar after India’s current account deficit widened sharply driven by higher imports. The rupee opened at 65.04 a dollar. At 9.15am, the home currency was trading at 65.04 a dollar, down 0.16% from its Friday’s close of 64.94. The 10-year bond yield was at 7.576% compared to its previous close of 7.557%. Bond yields and prices move in opposite directions.

  • 9.35 am ISTMarket updateBSE Sensex traded lower by 24.05 points, or 0.07%, to 33,151.95, while the Nifty 50 fell 8.65 points, or 0.08%, to 10,186.50.
Source livemint.com
Via livemint.com

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