Sensex and Nifty start on a cautious note, HCL Tech gains over 4%



The Sensex and Nifty stock indices opened on a cautious note on Monday due to the lack of directional indices from global and domestic markets.

The 30-stock BSE index traded 38.84 points or 0.10% higher at 38,884.66; while the NSE Nifty rose 10.30 points or 0.09% to 11,515.25.

HCL Tech was the top winner in the Sensex pack, up around 4%, followed by Infosys, Tech Mahindra, TCS, Kotak Bank, M&M and Asian Paints.

HCL Technologies announced Monday that it will acquire Australian IT solutions company DWS Ltd, an initiative that will help the Indian company strengthen its position in the Australian and New Zealand market.

In contrast, Bajaj Auto, Nestlé India, ICICI Bank, PowerGrid and Bharti Airtel were among the laggards.

In the previous session, Sensex was 134.03 points or 0.34% lower to 38,845.82, while Nifty lost 11.15 points or 0.10% to finish at 11,504.95.

Meanwhile, exchange data showed that foreign institutional investors bought shares worth ₹ 205.15 crore on a net basis on Friday.

According to Vinod Nair, head of research at Geojit Financial Services, the obvious lack of direction on either side was visible in trading last week. “Due to the lack of new triggers for the market, the current uncertainty is expected to continue,” he added.

The exchanges in Shanghai, Hong Kong and Seoul were trading lower in midday trades.

Meanwhile, global benchmark Brent crude was trading 0.16% higher at $ 43.22 a barrel.

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