Tepid start to the market; pharma, infra stocks top gainers

Equities around the world rose on Monday on hope of possible progress in resolving the trade dispute between the United States and China.

Tepid start to the market; pharma, infra stocks top gainers

New Delhi: Markets started on a dull note on the first day of the year.

Finance and banking stocks witnessed selling pressure while pharma, infra, oil and gas sector gained.

The BSE Sensex turned negative by falling 132.40 points or 0.37 percent to 35,935.93 while the NSE Nifty went down 39.65 points or 0.37 percent to 10,822.90 in early trade.

Even though the 2018 gains were marginal, both the Sensex and Nifty50 emerged among the best in attaining the highest growth rates globally. They were among the best performing benchmark indices in the BRICS (Brazil, Russia, India, China, South Africa).

Equities around the world rose on Monday as possible progress in resolving the trade dispute between the United States and China engendered some investor optimism in what has been a punishing end of year for markets, a Reuters report said.

The U.S. benchmark S&P 500 stock index advanced in light trading volume after U.S. President Donald Trump said he held a "very good call" with China`s President Xi Jinping on Saturday to discuss trade and said "big progress" was being made.

With Agency Inputs