Benchmark indices are trading in a narrow range with some positive bias amid gains in Asian markets after US President Donald Trump confirmed he would delay a planned increase on Chinese imports as talks between the two sides were making “substantial progress”.
Among sectoral indices, Nifty Realty index is trading 2.62 % higher as the GST Council on Sunday slashed the GST rates on under-construction residential properties to 5 % without input tax credit (ITC), from the existing 12 %.
Shares of Sunteck Realty were trading 6 % higher in the early trade.
In the broader market, the S&P BSE MidCap index was trading 61 points, or 0.43 % higher at 14,231, while the S&P BSE SmallCap index was ruling at 13,580, up 62 points, or 0.46 %.
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The rupee on Monday opened 12 paise higher at 71.02 against the US dollar amid rise in crude oil prices and positive Asian equities. The domestic unit on Friday gained 10 paise to close at 71.14 on heavy foreign capital inflows after growing expectations that the Federal Reserve would keep interest rate on hold this year.
Global Markets
MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.14 % to the highest since October, while futures pointed to a firmer opening for Japan’s Nikkei. E-Mini futures for the S&P 500 edged up 0.3 %.
US stocks ended on a positive note on Friday. The Dow Jones Industrial Average rose 181.48 points to 26,032.11, the S&P 500 gained 17.78 points to 2,792.66 and the Nasdaq Composite added 67.84 points to 7,527.55.
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