Markets LIVE: BSE Sensex and NSE’s Nifty 50 opened higher, but soon erased gains and traded little changed. Here are the latest updates from the markets

Benchmark indices BSE Sensex and NSE’s Nifty 50 opened higher, but soon erased gains and traded lower dragged mainly by banking and auto stocks. negative cues from global markets also added pressure. The rupee opened lower against the dollar, tracking losses in Asian currencies as crude oil prices gained. Moreover, investors turned cautious as second-quarter earnings season began. Shares of Avenue Supermarts fell over 5% over disappointing Q2 results.

In global equities, stocks in Japan, Hong Kong and Australia slipped on Monday as worries over US-China trade disputes, a possible slowdown in the Chinese economy and higher US borrowing costs tempered optimism despite a rebound in global equities late last week. Oil prices reversed their downtrend since early this month.

TCS shares gain 1%
TCS shares traded 0.90% up at Rs 1935.70 per share on BSE. The company’s net profit rose 3.4% to $1.1 billion from $1.08 billion in the preceding three months, while operating margin jumped 150 basis points to 26.5% from 25% in the April-June period, aided largely by a weaker rupee. Moreover, TCS chief operating officer N. Ganapathy Subramaniam said that the company will start outlining the business from some of the individual components it now calls digital.

9.58 am IST
Infosys shares up 1% ahead of Q2 results tomorrow
Infosys shares traded 0.93% up at Rs 685.35 per share on BSE ahead of its September quarter results due on Tuesday. In early trade, the stock rose as much as 1.97% to Rs 692.45.

9.40 am IST
HUL shares down 3% after Q2 results
Shares of Hindustan Unilever fell as much as 3.18% to Rs 1,517 per share. The company’s net profit rose to 1,525 crore in Q2, from ₹ 1,276 crore a year ago. A Bloomberg poll of 12 analysts had estimated HUL’s Q2 profit at 1,425.7 crore and revenue at 9,216.1 crore.

source: livemint.com