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Sensex, Nifty likely to open lower

Yatheendradas C.k. at 09:05 AM - Jun 25, 2019 ( ) Views: 91

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Share Market LIVE: Sensex, Nifty likely to open lower; Axis Bank, Piramal Enterprises in focus today
By: FE Online | Updated:Jun 25, 2019 8:59:47 am
The Indian headline indices- Sensex and Nifty are likely to open lower tracking Asian markets. The investors are waiting for the US-China trade talks to be held at the G20 summit this week

The Indian headline indices- Sensex and Nifty are likely to open lower tracking Asian markets. The investors are waiting for the US-China trade talks to be held at the G20 summit this week. The crude oil prices were firm on Tuesday, supported by rising geopolitical tensions between the US and Iran. However, the demand concerns with regard to crude oil is putting pressure on crude oil prices. The international benchmark Brent crude futures were up 3 cents at $64.89 a barrel by 0034 GMT, while the US crude futures were down 3 cents at $57.87 a barrel. The Indian share markets ended lower for the second consecutive day amid geopolitical tensions in the Middle East. While the Sensex lost 71.53 points to end at 39,122.96, the broader Nifty fell 24.40 points to settle at 11,699.70.

Meanwhile, the foreign institutional investors (FIIs) bought shares worth Rs 207 crore on a net basis, whereas the domestic institutional investors (DIIs) bought shares worth Rs 984 crore as on Jun 24, according to NSE data. Shares of Piramal Enterprises and Axis Bank will be in focus today. State-run Life Insurance Corp or LIC has sold its 2 per cent stake in Axis bank via open market transaction. After the transaction, the LIC’s stake has now come down to 10.2 per cent in the private lender. Piramal Enterprises is evaluating the feasibility of the sale of its entire 20% stake in Shriram Capital Limited. The proposed transaction would be subject to receipt of necessary approvals, including the approval of the board of directors of the company at the appropriate stage, it said in a statement. 


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