The market has opened in the green, flat to positive as its global peers recovered ahead of the opening but the trade tensions remain.

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The BSE Sensex opened at 35,506 points and the NSE Nifty opened at 10,781 points, keeping in check the key global developments which are in store for this week. IT and pharma stocks are the opening index gainers along with Bajaj Finance while ICICI Bank, Axis Bank, UPL, ONGC and HPCL are the top opening index losers.

Asia stocks shook off initial modest losses and edged up on Monday ahead of a US-North Korea summit that might ease regional tensions, while investors also started to focus on key central bank meetings later this week.

(The above-mentioned detail is the opening bell for the market today, as of 09:18 am)

What was expected?

The market is likely to be in check as its global peers fear a trade war after US President Donald Trump backed out of the G7 summit held this weekend.

The markets are also cautious fearing the outcome of the Trump-Kim meet which is to be held on June 12 in Singapore.

Asian stocks moved gingerly on Monday. MSCI’s broadest index of Asia-Pacific shares outside Japan inched up 0.05 percent.

Trump’s reversal, announced while he was en route to Singapore for a meeting with North Korean leader Kim Jong Un, sent his Group of Seven partners scrambling.

The S&P 500 futures were down 0.3 percent, while the New Zealand stocks were off 0.3 percent. Australian markets were closed for a holiday.

In the US market, the investors were trading cautiously as the Federal Reserve is expected to raise the interest rates for the second time in the year in the two-day meet. The focus is on whether the central bank will hint at raising rates a total of four times in 2018.

The Indian market made a smart recovery in the last hour of trade on Friday to end the session flat on Friday. The Sensex recovered by 184 points to end the session 19 points lower at 35,444, while the benchmark Nifty index gained 59 points to close 1 point in the red at 10,768.

In the broader markets, the Nifty Midcap index gained 96 points to end the session at 18,831. The Nifty Bank index was the biggest under performer amongst key indices with the Index closing 66 points in the red at 26,451.

First Published:Jun 11, 2018 7:27 AM IST