ONGC, Axis Bank, ITC, Tech Mahindra and SBI are among the top gainers on the key indices, whereas NTPC, Indian Oil, IndusInd Ban and ICICI Bank trade lower. Here are the latest updates from the markets

Benchmark indices BSE Sensex and NSE’s Nifty 50 declined on Monday following losses in Asian markets after a US official downplayed the potential for a quick deal between the US and China. Shares in Japan and Hong Kong underperformed and US equity-index futures dropped over trade concerns. The Indian rupee weakened against the US dollar, tracking losses in Asian currencies. Oil prices fell as traders keenly await the outcome of negotiations on possible waivers of U.S. sanctions on Iran. The sanctions will be reimposed on Monday covering Iran’s oil, banks, insurance and shipping sectors.

9.48 am IST
Market update: Sensex, Nifty trim losses
The BSE Sensex traded 26.70 points, or 0.08%, lower at 34,984.95, while the Nifty 50 fell 19.95 points, or 0.19%, to 10,533.05. The Sensex opened 107 points lower at 35,011.65 and hit a high and a low of 35,123.41and 34,848.49, respectively. The Nifty 50 opened 6 points up at 10,558.75. It hit a high of 10,558.80 and a low of 10,498.40.
The BSE MidCap and SmallCap indices gained 0.36% and 0.37%, respectively. Among the sectoral indices on BSE, realty, healthcare, IT and teck gained, while power, utilities, energy and oil and gas declined.

9.30 am IST
ONGC shares up over 4% on Q2 numbers
ONGC shares advanced as much as 4.46% to Rs 164.70 per share. The company posted a 61% jump in second-quarter profit on Saturday, with higher crude oil prices helping it to beat forecasts. ONGC’s net profit stood at Rs 8,265 crore in the quarter, compared with Rs 5,130 crore a year earlier.

9.22 am IST
Axis Bank shares rise nearly 4% post Q2 earnings
Axis Bank shares rose as much as 3.76% to Rs 632.90 per share. The bank’s net profit rose 82.6% year-on-year (y-o-y) to ₹789.6 crore in the September quarter because of higher net interest income and lower provisions, the private sector lender reported on Friday. NIM stood at 3.59%, down 12 basis points (bps) y-o-y and 8bps sequentially. Other income rose 3.5% to ₹2,678.38 crore in the three months to September 2018.

source: livemint.com