MARKETS LIVE: Indices open lower, Nifty near 10,650 mark as oil prices firm

Markets, Stocks, SharesSectoral Trend Top Sensex gainers and losers Markets at open At 9:16 am, the S&P BSE Sensex was trading at 35,084, down 65 points while the broader Nifty50 index was ruling at 10,671, down 11 points Crude breaches $80 a barrel, pressure on RBI to hike rate Global crude prices have hit $80 a barrel after a gap of three-and-a-half years, increasing the pressure on inflation and on the Reserve Bank of India to hike the policy rate. While the fiscal math of the government will have to be re-done given the the Budget had assumed oil prices at around $65 a barrel, officials played down the concerns. READ MORE   Markets at pre-open Index Current Pt. Change % Change   S&P BSE SENSEX 35,213.02 +63.90 +0.18   S&P BSE SENSEX 50 11,202.74 +11.90 +0.11   S&P BSE SENSEX Next 50 32,853.04 +20.74 +0.06   S&P BSE 100 11,014.97 +9.81 +0.09   S&P BSE Bharat 22 Index 3,559.08 +6.67 +0.19 (Source: BSE) Derivatives strategy on Ujjivan Finance by HDFC Securities Buy UJJIVAN FINANCE May Future at Rs 407 Stop loss of Rs 398 Target Rs 425   Rationale: We have seen Long positions being built in Ujjivan Finance futures’ today where we have seen 14% Rise in Open Interest with a Price rise of 2%.   After a small correction during the last few days, It resumed its uptrend again today where Stock price closed above 5 and 20-day Simple moving averages with higher volumes   Oscillators like RSI and KST is showing strength in the stock for the short to medium term.   NBFC as a sector is doing well and looking good for the short term. READ MORE
Source: Business Standard