Markets recover early loss; Sensex closes 100 points above

Tension in Middle East pull back Indian indices

Mumbai: Benchmark indices traded nearly unchanged on Monday morning after recovering from a steep decline at open, tracking mixed Asian equity markets as investors assessed that the likelihood the fallout of an American-led strike on Syria could be contained. On the BSE, 853 stocks declined, 282 stocks rallied, while 57 stocks remained unchanged.

The 30-share index fell by 293.31 points, or 0.85 per cent, to 33,899.34 in opening trade.

The index had risen 1,173.88 points in the past seven sessions.

Shares of one of India's biggest software firms, Infosys fell 3.86% to Rs 1,123.90 on less-than-expected FY19 revenue guidance.

The major gainers on the BSE on Monday so far were Asian Paints, Mahindra and Mahindra, HDFC, Hero MotoCorp and ITC, while Tata Motors (DVR), Tata Motors, Infosys, Tata Steel, ONGC were among the main losers.

More news: Air strikes on Syria will not change course of war: UK's Johnson

Meanwhile, on a net basis, foreign institutional investors (FIIs) sold shares worth Rs 399.59 crore on Friday, provisional data showed.

Among other Asian markets, Hong Kong's Hang Seng shed 1.44%, while Shanghai Composite Index was down 1.05% in early trade. EMini futures for the S&P 500 nudged up 0.38 percent, while Japan's Nikkei added 0.2 percent.

The US Dow Jones Industrial Average ended 0.50 per cent lower in Friday's trade. Nasdaq and S&P 500 was also down by 0.47 percent and 0.29 percent respectively.

The rupee fell 20 paise against the United States dollar in early trade on global trade war concerns, dip in March exports and a sharp drop in domestic equities.

The wider Nifty50 closed higher by 41.50 points or 0.40 per cent to 10,458.65 points, while the Sensex closed at 34,192.65 points, up 91.52 points or 0.27 per cent.

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