Stock markets trade lower after early gains,
In the opening bell on Thursday, the 30-share BSE Sensex climbed 287.32 points to 66,406.01 in early deals. The Nifty advanced 50.2 points to 19,766.65.
The equity benchmark indices opened on a positive note in the opening bell on Thursday. The 30-share BSE Sensex climbed 287.32 points to 66,406.01 in early deals. The Nifty advanced 50.2 points to 19,766.65.
However, both the benchmark indices failed to carry forward the winning momentum and traded in the negative territory later. The 30-share BSE benchmark traded 64.71 points lower at 66,053.98 and the Nifty quoted 14.20 points down at 19,702.25.
Among the Sensex firms, Larsen & Toubro, JSW Steel, Axis Bank, Tata Steel, Sun Pharma and State Bank of India were the biggest gainers. Tech Mahindra, Asian Paints, Hindustan Unilever, Bajaj Finance, ITC and Kotak Mahindra Bank were the major laggards.
In Asian markets, Shanghai quoted in the green while Tokyo and Hong Kong traded lower. The US markets ended on a mixed note on Wednesday. Global oil benchmark Brent crude climbed 0.71 per cent to USD 97.24 a barrel. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 354.35 crore on Wednesday, according to exchange data.
The BSE benchmark had climbed 173.22 points or 0.26 per cent to settle at 66,118.69 on Wednesday. The Nifty gained 51.75 points or 0.26 per cent to end at 19,716.45.
Rupee trades flat against US dollar
The rupee edged up 1 paisa to 83.21 against the US currency in a restricted trade on Thursday amid gains in domestic equities. The Indian currency was almost trading flat in the early session as gains from firm domestic stocks were offset by a rise in crude oil prices and the US dollar index remaining above the 106-mark against the leading currencies, forex dealers said.
The rupee opened flat at 83.22 against the US dollar and later moved in a range of 83.25 to 83.20 in morning deals. It was trading at 83.21 to US dollar at 9.35 am, up by 1 paisa over the previous close. The domestic unit settled at 83.22 on Wednesday after a listless trade.
(With PTI inputs)