Europe Update: European markets traded lower after President Donald Trump announced new tariffs against China.
France's CAC and Germany's DAX declined 0.6 percent each.
Market sentiment was being dominated by trade tensions between the U.S. and China with new tariffs on the table. More than 800 Chinese goods are due to get an extra 25 percent tariff starting on July 6. As a result, China has responded with a 25 percent tariff that will also be applied to certain US products starting on the same day, reports CNBC.
Jun 18, 01:47 PM (IST)
Jun 18, 01:39 PM (IST)
Market Update: The rangebound trade continued at Dalal Street even as its Asian peers reeled under selling pressure following escalated trade tensions between world's two largest economies US and China. Midcap index underperformed frontliners, falling half a percent.
ICICI Bank is the top gainer among Sensex 30 stocks, rising more than 3 percent on a media report that there could be reshuffle of top management.
Jun 18, 01:26 PM (IST)
Fund Raising: AU Small Finance Bank has received its shareholders approval in an EGM held on June 15, 2018, to raise Rs 1,000 crore from Temasek, a global investment company headquartered at Singapore.
This is the largest primary capital infusion in AU Bank and its first ever since their last raise in fiscal 2012. Its Rs 1,913 crore IPO last year was a complete offer-for-sale with no infusion in the bank.
Jun 18, 01:05 PM (IST)
Fiscal Deficit: The government is committed to meet the fiscal deficit target of 3.3 percent for the current fiscal, interim Finance Minister Piyush Goyal said.
The government will maintain stability in the economy and meet all economic parameters fixed by the government, he said today at an event here.
"I can assure that we will meet the fiscal deficit target of 3.3 percent, despite this being an election year," he said.
Fiscal deficit stood at 3.53 percent of the GDP, broadly in line with the government's revised estimates for 2017-18.
The revenue deficit was 2.65 percent of the GDP. In absolute terms, the fiscal deficit was Rs 5.91 lakh crore, or 99.5 percent, of the Budget estimates.
The government, in the Budget in February, had revised the fiscal deficit target for 2017-18 to 3.5 percent from the earlier estimate of 3.2 percent, reports PTI.
Jun 18, 12:53 PM (IST)
Buzzing: HT Media gained nearly 2 percent after Koovs Plc has signed 2-year ad-for-equity pact with HT Media for 24 million pound, reports CNBC-TV18 quoting Cogencis.
HT Media will get 30 percent in cash and rest in equity for ad-for-equity deal.
Jun 18, 12:37 PM (IST)
Market Update: The market continued to be rangebound even as its Asian peers are under pressure following escalated trade tensions between world's two largest economies US and China.
Benchmark indices are getting support from falling oil prices. US crude futures fell 1.6 percent after China threatened duties on American imports, including crude, in an escalating trade dispute with US.
Oil retailers HPCL and BPCL gained 5 percent each while aviation companies like Jet Airways, SpiceJet and InterGlobe Aviation rose 1-3 percent after fall in crude oil prices.
The Sensex slipped 26.08 points to 35,596.06 and the Nifty fell 6.70 points to 10,811.
Jun 18, 12:27 PM (IST)
Buzzing: Panacea Biotec stock jumped 6 percent intraday after the company along with its partner, Apotex Inc. and Apotex Corp. (Apotex) have entered into a settlement agreement with Celgene Corporation, a global biopharmaceutical company headquartered in USA and its subsidiary Abraxis BioScience, LLC, for settlement of disputes regarding patents covering Abraxane drug product and the company's Abbreviated New Drug Application (ANDA) for paclitaxel protein bound particles for injectable suspension, 100mg/vial, a generic version of Abraxane'",
Jun 18, 12:12 PM (IST)
Jun 18, 11:55 AM (IST)
Buzzing: PNC Infratech share price fell nearly 4 percent after the UP government has decided to reinvite bids for Purvanchal Expressway and cancelled the company's Rs 1,738.44 crore offer made earlier.
PNC Infratech was declared the lowest bidder for the 4th package of the project for a quoted price of Rs 1,738.44 crore.
"The government of Uttar Pradesh has cancelled the ongoing bidding process of 341 km long Purvanchal Expressway project comprising eight individual packages and decided to go for fresh bidding.
The company was declared as L1 (lowest) bidder for the 4th package of the above project on EPC basis for a quoted price of Rs 1,738.44 crore, which now stands cancelled," the company said in a BSE filing.
Jun 18, 11:46 AM (IST)
Rupee Update: The rupee pared morning losses and was trading 4 paise lower to 68.06 against the American currency in late morning deals amid bouts of dollar-selling by banks and exporters, despite strength in the greenback.
The rupee hit a fresh three-week low of 68.16 against last Friday's closing level of 68.01 at the inter-bank foreign exchange here.
The domestic unit was trading in a wide range and hovered between 67.97 and 68.18 per dollar during morning deals, it was quoting at 68.00 at 1030 hrs.
Some dollar-selling by banks on behalf of the apex bank curbed the fall in rupee, a dealer said.
Meanwhile, the US dollar rose towards a seven-month high against its major peers in early Asian trade as investors hoped the United States and China would avoid a full-blown trade war, although tensions between the two slowed its gains, reports PTI.
Jun 18, 11:37 AM (IST)
Market Update: The market continued to consolidate despite Asia corrected due to escalated trade tensions between world's two largest economies US and China.
US crude futures are down nearly 2 percent after China threatened duties on American exports, including crude, in an escalating trade dispute with Washington.
Metal stocks also corrected on trade tensions, with the Nifty Metal index falling over 2 percent.
Oil retailers IOC and HPCL rallied more than 5 percent on sharp correction in oil prices.
The Sensex dropped 28.60 points to 35,593.54 and the Nifty fell 4.70 points to 10,813.
Jun 18, 11:31 AM (IST)
Jun 18, 11:25 AM (IST)
Crude Update: Crude oil futures dropped by 2.0 percent to Rs 4,349 per barrel today as speculators reduced positions amid a weak trend in Asian markets.
At Multi Commodity Exchange, crude oil for delivery in July was trading Rs 92, or 2.07 per cent, lower at Rs 4,349 per barrel in 1,130 lots.
Oil for June delivery also moved down by Rs 91, or 2.05 percent, to Rs 4,344 per barrel in 6,454 lots.
Investor sentiment dampened in futures trade after oil prices fell in Asia today, pulled down by an expectation that OPEC and its allies would increase supplies, analysts said.
Meanwhile, West Texas Intermediate (WTI) crude was down USD 1.23, or 1.89 per cent, to USD 63.83; and Brent crude eased 76 cents, or 1.03 per cent, to USD 72.68 a barrel on the New York Mercantile Exchange.
Jun 18, 11:22 AM (IST)
Market Outlook: Indian market lost momentum after hitting record highs in January. The S&P BSE Sensex is still down over 800 points from its record high of 36,443.98, but the real carnage was seen in the small & midcap space in which stock fell up to 90 percent so far in 2018.
Does that mean that the honeymoon period seen in the small and midcaps is over? Well, the fall may not be over but very optimistic on smallcaps because they are not co-related with macros, Shankar Sharma, Chairman, First Global said in an exclusive interview with CNBC-TV18.
“There are some many companies with visible growth rate, trading at attractive valuations, and no leverage are some of the companies where I am hunting and there are plenty on them irrespective of macros,” he said.
Commenting on the rise in interest rates, Sharma said that it does pose as a risk. India also has widening current account deficit thanks to rise in crude oil prices and not to forget rate cycle which has turned for the worst.
Jun 18, 10:48 AM (IST)
Partnership: Pharma major Lupin and Nichi-lko announced that the two companies have entered into an agreement for the distribution, promotion and sale of Lupin's recently-filed biosimilar Etanercept in Japan.
"Developed by YL Biologics, a joint venture between Lupin's subsidiaryLupin Atlantis Holdings SA(LAHSA) and Yoshindo, the product will be launched by Nichi-lko after receiving approval from the Pharmaceuticals and Medical Devices Agency (PMDA)," the company said.
Kyowa (Lupin's subsidiary in Japan) had submitted a New Drug Application (NDA) for Marketing Authorization to the Pharmaceuticals and Medical Devices Agency (PMDA) in March this year following the successful conclusion of its global Phase III study.
Jun 18, 10:39 AM (IST)
Market Update: The market remained in a tight range despite weakness in Asia due to escalated trade tensions between world's two largest economies US and China.
Brent crude futures traded down 1 percent to below $73 a barrel on likely increase in output in the OPEC meeting later in the week.
Metal stocks corrected on trade tensions, with the Nifty Metal index falling 2 percent.
The 30-share BSE Sensex declined 28.60 points to 35,593.54 and the 50-share NSE Nifty slipped 4.70 points to 10,813. About 1,175 shares declined 797 shares have advanced, 1175 shares declined, and 116 shares are unchanged.
Jun 18, 10:16 AM (IST)
Listing Post Demerger: Adani Green Energy fell 5 percent to Rs 28.50 from its opening level on the National Stock Exchange.
The stock price has opened at Rs 30 while its previous close stood at Rs 151.45 on the exchange.
It corrected more than 81 percent from its previous close.
Last year, Adani Enterprises demerged its renewable energy business into associate company Adani Green Energy, to simplify the business structure.
Adani Green Energy issued equity shares at par on a proportionate basis to the shareholders of Adani Enterprises. "761 fully paid up equity shares of Adani Green Energy issued and allotted for every 1000 fully paid up equity shares held in Adani Enterprises."
Jun 18, 10:04 AM (IST)
Jun 18, 09:51 AM (IST)
Rupee Update: The rupee weakened by 15 paise to hit a fresh three-week low of 68.16 against the US dollar in opening trade today but it cut down losses to 4 paise at 68.04 a dollar, pressured by appreciation of the American currency overseas amid sustained foreign capital outflows.
Forex dealers said the dollar's rise towards a seven-month high against a basket of its peers, as investors absorbed the escalation in trade tensions between the US and China, weighed on the rupee. However, a higher opening in the domestic equity market capped the losses.
The rupee had closed below the key 68-mark to end at 68.01 against the US currency in the previous session on Friday after the country's trade deficit widened more than expected amid renewed global trade war fears.
Foreign portfolio investors (FPIs) sold shares worth a net Rs 1,524.74 crore on Friday, provisional data released by stock exchanges showed.
Jun 18, 09:36 AM (IST)
TCS at Record High: Tata Consultancy Services (TCS) continued to trade at fresh record high after it announced a buyback of up to Rs 16,000 crore on Friday which most brokerages think was a bit lower than expectations and is slightly negative on earnings per share (EPS).
TCS's board approved a proposal to buy back up to 7.6 crore equity shares "for an aggregate amount not exceeding Rs 16,000 crore". Most brokerage firms were anticipating a buyback of over Rs 20,000 crore
The buyback is at 1.99 percent of the total paid up equity share capital, at Rs 2,100, which is a premium of 14 percent over TCS's closing price of Rs 1,841.45 on Friday.
CLSA which maintains a buy rating on TCS with a target price of Rs 1850 said that buyback of 18 percent of net worth or 34 percent of its cash reserve was a tad lower than expectations.
Jun 18, 09:31 AM (IST)
Yes Bank in focus: Yes Bank said it has received final approval and registration from Securities and Exchange Board of India (SEBI) for acting as Custodian of Securities.
Custodian of Securities is a license granted by SEBI to eligible entities allowing them to offer custodial services to financial market participants including foreign institutional investors (FIIs) and foreign portfolio investors (FPIs).
Jun 18, 09:30 AM (IST)
Market Update: The market is rangebound in morning trade despite weakness in Asian peers due to escalated trade tensions between world's two largest economies US and China.
The Nifty continued to hold 10,800 levels as Brent crude futures extended losses, down 1 percent to trade below $73 a barrel on likely increase in output in the OPEC meeting later in the week.
The Sensex gained 16.61 points at 35,638.75 and the Nifty rose 2.50 points to 10,820.20.
Oil marketing companies IOC, HPCL and BPCL gained 2-3 percent on falling crude prices while TCS hits fresh record high after the buyback news.
Jun 18, 09:20 AM (IST)
Market Opening: Benchmark indices opened mildly lower on Monday following weakness in Asian peers amid escalated US-China trade tensions.
The Sensex slipped 16.67 points to 35,605.47 and the Nifty declined 8.00 points to 10,809.70.
BPCL, HPCL and IOC gained 2-3 percent after further fall in crude oil prices.
Tech Mahindra, ICICI Bank and HDFC Bank are early gainers.
Dr Reddy's Labs fell 2 percent. Vedanta, Hindalco Industries, UltraTech Cement, Tata Steel and ONGC are under pressure.
Nifty Midcap and Bank Nifty indices slipped 22 points each.
Jet Airways, SpiceJet, InterGlobe Aviation, Idea Cellular, TVS Motor Company, Castrol, Motherson Sumi and DCM Shriram gained up to 5 percent.
Avenue Supermarts, PVR, Vakrangee, Ruchi Soya, Dish TV, JSPL and Nalco fell up to 5 percent.
ICICI Securities View on Market: Indian markets are expected to open negative today tracking mixed global cues. In the near term, market will watch out for the progress of monsoons and movement of crude oil prices along-with FII and DII activity.
Domestic markets ended on a flat note amid mixed global cues on the back of renewed trade worries between China and US. US markets ended in the negative territory as China indicated retaliation with tariffs of its own if the U.S. goes ahead with its plans to impose heavy tariffs on Chinese goods.
Jun 18, 09:03 AM (IST)
Market Pre-opening: Benchmark indices are sharply higher in pre-opening despite weak Asian trade amid US-China trade war.
The 30-share BSE Sensex rose 326.65 points to 35,948.79 and the 50-share NSE Nifty gained 13.70 points at 10,831.40.
Wealth creators: Long term investors could buy these 3 pharma stocks
Investors need to be careful while selecting stocks in midcap space as any unfavourable result in state elections would result in a drastic fall in midcaps and smallcaps
Europe Update: European markets traded lower after President Donald Trump announced new tariffs against China.
France's CAC and Germany's DAX declined 0.6 percent each.
Market sentiment was being dominated by trade tensions between the U.S. and China with new tariffs on the table. More than 800 Chinese goods are due to get an extra 25 percent tariff starting on July 6. As a result, China has responded with a 25 percent tariff that will also be applied to certain US products starting on the same day, reports CNBC.
Market Update: The rangebound trade continued at Dalal Street even as its Asian peers reeled under selling pressure following escalated trade tensions between world's two largest economies US and China. Midcap index underperformed frontliners, falling half a percent.
ICICI Bank is the top gainer among Sensex 30 stocks, rising more than 3 percent on a media report that there could be reshuffle of top management.
Fund Raising: AU Small Finance Bank has received its shareholders approval in an EGM held on June 15, 2018, to raise Rs 1,000 crore from Temasek, a global investment company headquartered at Singapore.
This is the largest primary capital infusion in AU Bank and its first ever since their last raise in fiscal 2012. Its Rs 1,913 crore IPO last year was a complete offer-for-sale with no infusion in the bank.
Fiscal Deficit: The government is committed to meet the fiscal deficit target of 3.3 percent for the current fiscal, interim Finance Minister Piyush Goyal said.
The government will maintain stability in the economy and meet all economic parameters fixed by the government, he said today at an event here.
"I can assure that we will meet the fiscal deficit target of 3.3 percent, despite this being an election year," he said.
Fiscal deficit stood at 3.53 percent of the GDP, broadly in line with the government's revised estimates for 2017-18.
The revenue deficit was 2.65 percent of the GDP. In absolute terms, the fiscal deficit was Rs 5.91 lakh crore, or 99.5 percent, of the Budget estimates.
The government, in the Budget in February, had revised the fiscal deficit target for 2017-18 to 3.5 percent from the earlier estimate of 3.2 percent, reports PTI.
Buzzing: HT Media gained nearly 2 percent after Koovs Plc has signed 2-year ad-for-equity pact with HT Media for 24 million pound, reports CNBC-TV18 quoting Cogencis.
HT Media will get 30 percent in cash and rest in equity for ad-for-equity deal.
Market Update: The market continued to be rangebound even as its Asian peers are under pressure following escalated trade tensions between world's two largest economies US and China.
Benchmark indices are getting support from falling oil prices. US crude futures fell 1.6 percent after China threatened duties on American imports, including crude, in an escalating trade dispute with US.
Oil retailers HPCL and BPCL gained 5 percent each while aviation companies like Jet Airways, SpiceJet and InterGlobe Aviation rose 1-3 percent after fall in crude oil prices.
The Sensex slipped 26.08 points to 35,596.06 and the Nifty fell 6.70 points to 10,811.
Buzzing: Panacea Biotec stock jumped 6 percent intraday after the company along with its partner, Apotex Inc. and Apotex Corp. (Apotex) have entered into a settlement agreement with Celgene Corporation, a global biopharmaceutical company headquartered in USA and its subsidiary Abraxis BioScience, LLC, for settlement of disputes regarding patents covering Abraxane drug product and the company's Abbreviated New Drug Application (ANDA) for paclitaxel protein bound particles for injectable suspension, 100mg/vial, a generic version of Abraxane'",
Buzzing: PNC Infratech share price fell nearly 4 percent after the UP government has decided to reinvite bids for Purvanchal Expressway and cancelled the company's Rs 1,738.44 crore offer made earlier.
PNC Infratech was declared the lowest bidder for the 4th package of the project for a quoted price of Rs 1,738.44 crore.
"The government of Uttar Pradesh has cancelled the ongoing bidding process of 341 km long Purvanchal Expressway project comprising eight individual packages and decided to go for fresh bidding.
The company was declared as L1 (lowest) bidder for the 4th package of the above project on EPC basis for a quoted price of Rs 1,738.44 crore, which now stands cancelled," the company said in a BSE filing.
Rupee Update: The rupee pared morning losses and was trading 4 paise lower to 68.06 against the American currency in late morning deals amid bouts of dollar-selling by banks and exporters, despite strength in the greenback.
The rupee hit a fresh three-week low of 68.16 against last Friday's closing level of 68.01 at the inter-bank foreign exchange here.
The domestic unit was trading in a wide range and hovered between 67.97 and 68.18 per dollar during morning deals, it was quoting at 68.00 at 1030 hrs.
Some dollar-selling by banks on behalf of the apex bank curbed the fall in rupee, a dealer said.
Meanwhile, the US dollar rose towards a seven-month high against its major peers in early Asian trade as investors hoped the United States and China would avoid a full-blown trade war, although tensions between the two slowed its gains, reports PTI.
Market Update: The market continued to consolidate despite Asia corrected due to escalated trade tensions between world's two largest economies US and China.
US crude futures are down nearly 2 percent after China threatened duties on American exports, including crude, in an escalating trade dispute with Washington.
Metal stocks also corrected on trade tensions, with the Nifty Metal index falling over 2 percent.
Oil retailers IOC and HPCL rallied more than 5 percent on sharp correction in oil prices.
The Sensex dropped 28.60 points to 35,593.54 and the Nifty fell 4.70 points to 10,813.
Crude Update: Crude oil futures dropped by 2.0 percent to Rs 4,349 per barrel today as speculators reduced positions amid a weak trend in Asian markets.
At Multi Commodity Exchange, crude oil for delivery in July was trading Rs 92, or 2.07 per cent, lower at Rs 4,349 per barrel in 1,130 lots.
Oil for June delivery also moved down by Rs 91, or 2.05 percent, to Rs 4,344 per barrel in 6,454 lots.
Investor sentiment dampened in futures trade after oil prices fell in Asia today, pulled down by an expectation that OPEC and its allies would increase supplies, analysts said.
Meanwhile, West Texas Intermediate (WTI) crude was down USD 1.23, or 1.89 per cent, to USD 63.83; and Brent crude eased 76 cents, or 1.03 per cent, to USD 72.68 a barrel on the New York Mercantile Exchange.
Market Outlook: Indian market lost momentum after hitting record highs in January. The S&P BSE Sensex is still down over 800 points from its record high of 36,443.98, but the real carnage was seen in the small & midcap space in which stock fell up to 90 percent so far in 2018.
Does that mean that the honeymoon period seen in the small and midcaps is over? Well, the fall may not be over but very optimistic on smallcaps because they are not co-related with macros, Shankar Sharma, Chairman, First Global said in an exclusive interview with CNBC-TV18.
“There are some many companies with visible growth rate, trading at attractive valuations, and no leverage are some of the companies where I am hunting and there are plenty on them irrespective of macros,” he said.
Commenting on the rise in interest rates, Sharma said that it does pose as a risk. India also has widening current account deficit thanks to rise in crude oil prices and not to forget rate cycle which has turned for the worst.
Partnership: Pharma major Lupin and Nichi-lko announced that the two companies have entered into an agreement for the distribution, promotion and sale of Lupin's recently-filed biosimilar Etanercept in Japan.
"Developed by YL Biologics, a joint venture between Lupin's subsidiaryLupin Atlantis Holdings SA(LAHSA) and Yoshindo, the product will be launched by Nichi-lko after receiving approval from the Pharmaceuticals and Medical Devices Agency (PMDA)," the company said.
Kyowa (Lupin's subsidiary in Japan) had submitted a New Drug Application (NDA) for Marketing Authorization to the Pharmaceuticals and Medical Devices Agency (PMDA) in March this year following the successful conclusion of its global Phase III study.
Market Update: The market remained in a tight range despite weakness in Asia due to escalated trade tensions between world's two largest economies US and China.
Brent crude futures traded down 1 percent to below $73 a barrel on likely increase in output in the OPEC meeting later in the week.
Metal stocks corrected on trade tensions, with the Nifty Metal index falling 2 percent.
The 30-share BSE Sensex declined 28.60 points to 35,593.54 and the 50-share NSE Nifty slipped 4.70 points to 10,813. About 1,175 shares declined 797 shares have advanced, 1175 shares declined, and 116 shares are unchanged.
Listing Post Demerger: Adani Green Energy fell 5 percent to Rs 28.50 from its opening level on the National Stock Exchange.
The stock price has opened at Rs 30 while its previous close stood at Rs 151.45 on the exchange.
It corrected more than 81 percent from its previous close.
Last year, Adani Enterprises demerged its renewable energy business into associate company Adani Green Energy, to simplify the business structure.
Adani Green Energy issued equity shares at par on a proportionate basis to the shareholders of Adani Enterprises. "761 fully paid up equity shares of Adani Green Energy issued and allotted for every 1000 fully paid up equity shares held in Adani Enterprises."
Rupee Update: The rupee weakened by 15 paise to hit a fresh three-week low of 68.16 against the US dollar in opening trade today but it cut down losses to 4 paise at 68.04 a dollar, pressured by appreciation of the American currency overseas amid sustained foreign capital outflows.
Forex dealers said the dollar's rise towards a seven-month high against a basket of its peers, as investors absorbed the escalation in trade tensions between the US and China, weighed on the rupee. However, a higher opening in the domestic equity market capped the losses.
The rupee had closed below the key 68-mark to end at 68.01 against the US currency in the previous session on Friday after the country's trade deficit widened more than expected amid renewed global trade war fears.
Foreign portfolio investors (FPIs) sold shares worth a net Rs 1,524.74 crore on Friday, provisional data released by stock exchanges showed.
TCS at Record High: Tata Consultancy Services (TCS) continued to trade at fresh record high after it announced a buyback of up to Rs 16,000 crore on Friday which most brokerages think was a bit lower than expectations and is slightly negative on earnings per share (EPS).
TCS's board approved a proposal to buy back up to 7.6 crore equity shares "for an aggregate amount not exceeding Rs 16,000 crore". Most brokerage firms were anticipating a buyback of over Rs 20,000 crore
The buyback is at 1.99 percent of the total paid up equity share capital, at Rs 2,100, which is a premium of 14 percent over TCS's closing price of Rs 1,841.45 on Friday.
CLSA which maintains a buy rating on TCS with a target price of Rs 1850 said that buyback of 18 percent of net worth or 34 percent of its cash reserve was a tad lower than expectations.
Yes Bank in focus: Yes Bank said it has received final approval and registration from Securities and Exchange Board of India (SEBI) for acting as Custodian of Securities.
Custodian of Securities is a license granted by SEBI to eligible entities allowing them to offer custodial services to financial market participants including foreign institutional investors (FIIs) and foreign portfolio investors (FPIs).
Market Update: The market is rangebound in morning trade despite weakness in Asian peers due to escalated trade tensions between world's two largest economies US and China.
The Nifty continued to hold 10,800 levels as Brent crude futures extended losses, down 1 percent to trade below $73 a barrel on likely increase in output in the OPEC meeting later in the week.
The Sensex gained 16.61 points at 35,638.75 and the Nifty rose 2.50 points to 10,820.20.
Oil marketing companies IOC, HPCL and BPCL gained 2-3 percent on falling crude prices while TCS hits fresh record high after the buyback news.
Market Opening: Benchmark indices opened mildly lower on Monday following weakness in Asian peers amid escalated US-China trade tensions.
The Sensex slipped 16.67 points to 35,605.47 and the Nifty declined 8.00 points to 10,809.70.
BPCL, HPCL and IOC gained 2-3 percent after further fall in crude oil prices.
Tech Mahindra, ICICI Bank and HDFC Bank are early gainers.
Dr Reddy's Labs fell 2 percent. Vedanta, Hindalco Industries, UltraTech Cement, Tata Steel and ONGC are under pressure.
Nifty Midcap and Bank Nifty indices slipped 22 points each.
Jet Airways, SpiceJet, InterGlobe Aviation, Idea Cellular, TVS Motor Company, Castrol, Motherson Sumi and DCM Shriram gained up to 5 percent.
Avenue Supermarts, PVR, Vakrangee, Ruchi Soya, Dish TV, JSPL and Nalco fell up to 5 percent.
Top 10 money making ideas by experts which could give 4-12% returns in 30 days
Stock specific moves likely to happen in selective IT, pharma, NBFC stocks and heavyweights stocks are likely to take the lead while PSU, Auto, Cement, Mid and Small Cap stocks would be under pressure with limited upside.
Market Pre-Opening Update: Benchmark indices settled pre-opening session mildly higher despite trade war tensions.
The 30-share BSE Sensex rose 76.29 points to 35,698.43 and the 50-share NSE Nifty gained 12.50 points at 10,830.20.
Markets@Moneycontrol: Nifty likely to open gap-down; 3 stocks which could give 4-12% return
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 46.5 points or 0.43 percent. Nifty futures were trading around 10,779-level on the Singaporean Exchange.
ICICI Securities View on Market: Indian markets are expected to open negative today tracking mixed global cues. In the near term, market will watch out for the progress of monsoons and movement of crude oil prices along-with FII and DII activity.
Domestic markets ended on a flat note amid mixed global cues on the back of renewed trade worries between China and US. US markets ended in the negative territory as China indicated retaliation with tariffs of its own if the U.S. goes ahead with its plans to impose heavy tariffs on Chinese goods.
Market Pre-opening: Benchmark indices are sharply higher in pre-opening despite weak Asian trade amid US-China trade war.
The 30-share BSE Sensex rose 326.65 points to 35,948.79 and the 50-share NSE Nifty gained 13.70 points at 10,831.40.