Live: Sensex, Nifty trade flat after govt appoints Urjit Patel as new RBI chief

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9:35am: The 30-share S&P BSE Sensex is currently trading higher by 16.29 points, or 0.06%, to 28,093.29, while the Nifty 50 of the National Stock Exchange (NSE) is trading flat at 0.60 points, or 0.01%, to 8,667.50.

9:30am: Welspun group stocks are trading lower after Bloomberg report said Target Corp. is ending all business with Welspun India Ltd, one of the world’s biggest textile manufacturers, after saying the supplier was sending it phony Egyptian cotton sheets. Welspun India Ltd falls 20% to Rs.82.30, Welspun Corp Ltd falls 6% to Rs.84, Welspun Enterprises Ltd falls 4% to Rs.58.15.

9:25am: The Indian rupee on Monday weakens for the third consecutive session, to hit near-one-month low, at 67.19 a dollar, down 0.20% from its previous close of 67.06, while 10-year bond yield gained, after the government appointed Urjit Patel as the new Reserve Bank of India (RBI) governor.

9:20am: 10-year rupee bond yield is trading at 7.147%, compared with its Friday’s close of 7.102%.

9:15am: The dollar strengthens 0.3% to ¥100.52. The greenback advances 0.2% to $1.1301 per euro.

9:10am: West Texas Intermediate crude slips 0.6% in early Asian trading after surging 9.1% last week. Oil declined after Iraq, Opec’s second-biggest producer, said it will boost oil exports in the next few days amid a glut of supply.

9:05am: The MSCI Asia Pacific Index falls 0.1% to 139 in Tokyo. Japan’s Topix rises 0.4% as the yen dropped after Bank of Japan governor Haruhiko Kuroda said there is “sufficient chance” for more easing in September. South Korea’s Kospi index slips 0.3%. Australia’s S&P/ASX 200 Index falls 0.1%. New Zealand’s S&P/NZX 50 Index climbs 0.3%. Markets in China and Hong Kong have yet to start trading.

9:00am: Asian stocks fall with crude futures as investors weighed the prospects for higher rates in the US, while shares in Japan climbed on speculation for further stimulus.

8:50am: Futures on the S&P 500 Index were little changed. The US equity benchmark index lost 0.1% on Friday as a two-month rally ran out of steam amid signs investors are again growing skeptical of the long-awaited rebound in corporate profits.