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Nifty And Sensex Make Cautious Moves, Early This Monday

The indices opened on a cautious note on Monday. The exit polls of Karnataka elections suggest no clear win to both party and this was reflected on the indices. Poll predictions between various channels were not very informative about the results.

 But certain shares zoomed up in the morning trade. Shares like Nakoda and FCS Software were up by 25%. Another share that went up 20% was FCS Software. Shares like Kirloskar Brothers went up to 15.59%.

Similarly, shares that surged by over 9% were Sun TV which went up 10.55% and IMP Powers up by 9.98%, Jumbo Bags up by 9.76% and Bil Energy Systems up by 9.09%.

In the early hours of trade, the NSE Nifty index was trading at 10,828, up by 22 points, while the Sensex was trading at 35,613, up by 77 points. The Nifty had 29 stocks trading positively in the green, while 21 shares were in the red.

Some shares, especially in the mid-cap and small-cap, however, hit an intra-day low. Few shares from the banking and financial sectors were affected. Shares of Dena Bank, IDFC, UCO Bank and IFCI took a curve downwards. In the infrastructure and construction sector, HDIL, HCC, Punj Lloyd, Patel Engineering and Anant Raj Industries were deeply in the red. These shares touched a 52-week low showing weakness in their shares. Around 68 shares from the indices were under pressure.

Some sectors that were buzzing during intra-day trade were Oil, Pharma, Bank, and FMCG, with good results and earnings.

Some like Hindustan Unilever, Abbott India, Hindalco, Tata Steel, Bajaj Auto, Bajaj Finance, Britannia Industries, ITC and Dr. Lal Path Labs are expecting their results this week and will move according to their performance with quarterly results of March 2018.

The markets will show a significant swing with the elections expected on Tuesday.