Equity indices at flat levels, financials dip

Equity benchmark indices were at flat levels during early hours on Monday amid selling pressure in financial names.

At 10:15 am, the BSE S&P Sensex was up by 37 points or 0.07 per cent at 53,013 while the Nifty 50 moved up higher by 15 point or 0.09 per cent to 15,871.

Sectoral indices at the National Stock Exchange were mixed with Nifty realty gaining by 1.4 per cent but Nifty financial service dropping by 0.3 per cent.

Among stocks, JSW Steel slipped by 1.5 per cent to Rs 706.55 per share while Axis Bank dipped by 1 per cent and State Bank of India by 0.7 per cent. Others which came under selling pressure included home loan lender HDFC, Maruti Suzuki, Tata Motors, Hindustan Unilever and Wipro.

Realty major DLF lifted up by 1.3 per cent. Titan, Hindalco, Infosys, Britannia, ITC and Either Motors too were in the green zone.

Meanwhile, Asian shares skidded to seven-month lows as regulation concerns upended Chinese equities and strong US corporate earnings sucked funds out of emerging markets into Wall Street.

Chinese blue chips shed 2.4 per cent to their lowest in 10 weeks as the education and property sectors were routed on worries over tighter government rules.

That dragged MSCI's broadest index of Asia Pacific shares outside Japan down 1.4 per cent to its lowest since early January. Japan's Nikkei did bounce 1.4 per cent but that was off a seven-month low.

( With inputs from ANI )

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