Indices trade flat, Nifty nears 10,550

Monday,   05-Nov-2018   09:53 AM (IST)

Benchmark indices trimmed their opening gains and trading largely flat amid weak rupee and taking the cues from Asian markets. At 9:50 AM, the S&P BSE Sensex was trading at 35005, down 7 points, while the broader Nifty50 was at 10,546, down 7 points. Stock markets would remain closed on Wednesday and Thursday for 'Diwali Laxmi Pujan' and 'Diwali Balipratipada'.  The BSE and NSE will conduct a special 'Muhurat' trading session on Wednesday, November 7 between 5:00 pm and 6:30 pm, the stock exchanges had said on Friday.  Amid stock specific action, Axis Bank is trading 2.43 per cent higher after the company posted a better-than-expected 82.6 per cent jump in second-quarter profit, boosted by higher interest income and as asset quality improved. Over 200 companies including State Bank of India, Bosch, Cipla, PNB Housing Finance, Indraprastha Gas are likely to announce their September quarter earnings later in the day. On the macroeconomic front, PMI data for the services sector is scheduled to be released on Monday.