Sensex, Nifty cautious in early trade amid foreign fund outflows, weak cues; ICICI Bank, HCL, TCS among top gainers

Mumbai: Equity benchmark BSE Sensex and NSE Nifty were trading on a cautious note in the morning trade on Monday following weak cues from Asian peers amid sustained foreign fund outflow.

#MarketOpening | Market opens higher; Nifty bank outperforms on back of a gaining ICICI bank post Q1 earnings https://t.co/UZArl0uGSC

— CNBC-TV18 (@CNBCTV18News) July 29, 2019

The 30-share index was trading 33.48 points or 0.09 percent higher at 37,916.27 in the morning trade; while the broader Nifty was slightly lower at 11,279.35, showing a marginal fall of 4.95 points or 0.04 percent. In the previous session, the 30-share index closed at 37,882.79, registering a gain of 51.81 points or 0.14 percent, and the broader NSE Nifty rose 32.15 points or 0.29 percent to settle at 11,284.30. In early trade, ICICI Bank, HCL Tech, TechM, TCS, Infosys, IndusInd Bank, Kotak Bank, HUL and Axis Bank were among the top gainers, rising up to 2.77 percent. [caption id=“attachment_4402797” align=“alignleft” width=“380”]  Representative image. Reuters[/caption] On the other hand, M&M, Tata Motors, SBI, Yes Bank, Tata Steel, Asian Paints, ITC, Maruti, HeroMotoCorp, and Bajaj Auto fell up to 3.84 percent. On a net basis, foreign institutional investors sold equities worth Rs 1,503.26 crore on Friday, while domestic institutional investors purchased shares to the tune of Rs 1,917.52 crore, provisional data available with stock exchanges showed. Elsewhere in Asia, Shanghai Composite Index, Hang Seng, Nikkei and Kospi were trading in the red in their respective early sessions. However, equities on Wall Street ended on a positive note on Friday. On the currency front, the rupee fell 4 paise to 68.93 against the US dollar in morning trade on Monday. The global oil benchmark Brent crude futures were trading 0.32 percent lower at 63.26 per barrel.