Indian Markets Down; Rupee Gains Against Dollar

Indian stock markets were trading lower on Monday, as Italian Prime Minister Matteo Renzi vowed to resign after a defeat in a referendum on constitutional reforms. The S&P BSE Sensex dropped 48 points, or 0.18 percent at 26182.85, while the Nifty50 fell 0.13 percent to 8076.10.

The BSE Midcap index gained 0.16 percent, while the BSE Smallcap index rose 0.07 percent.

The Indian rupee rose 0.10 percent to trade at 68.16 versus U.S. dollar, versus previous close of 68.23. The dollar index rose 0.67 percent to trade at 101.45.

Direxion Daily India Bull 2X Shares INDL fell 1.27 percent to close at $44.36 on Friday, while PowerShares India Portfolio (ETF) PIN declined 0.52 percent to close at $19.20.

US stock markets closed mixed on Friday, with the Dow Jones Industrial Average dropping 0.11 percent, the S&P500 index rising 0.04 per cent, and the Nasdaq Composite gaining 0.09 percent.

US WTI crude futures on the NYMEX dropped 0.87 percent to trade at $51.23 per barrel.

Top market movers among the BSE index are as follows

• NEO Infracon Ltd. shares gained around 18 percent to 55.45 INR.
• J L Morison (India) Ltd. rose 17 percent to 1244.90 INR.
• Cosyn Ltd. rose about 15 percent to 184.00 INR.
• Ausom Enterprise Ltd shares surged 7 percent to 28.05 INR.

• Sabrimala Leasing and Holdings Ltd. shares dropped around 13 percent to 14.00 INR.
• Satkar Finlease Ltd. tumbled 10 percent to 94.05INR.
• Fraser & Company Ltd fell around 10 percent to 14.10 INR.
• Surya Marketing Ltd. shares declined 10 percent to 2.40 INR.