Finance

Sensex, Nifty open lower, Bharti Airtel rallies, rupee falls

Sensex, Nifty open lower, Bharti Airtel rallies, rupee falls

The 30-share BSE index Sensex was trading up 21.11 points or 0.06 per cent at 34,436.69 and the 50-share NSE index Nifty up 15.2 points or 0.14 per cent at 10,579.25.

The markets had opened in the red in morning but recovered soon enough as the BSE index extended gains to nearly 250 points, hitting the day-high of 34,663.95. Markets in Asia opened lowered on Wednesday, following an overnight drop in United States stocks where the Dow fell more than 400 points. The broader Nifty50 was also trading above the 10,600 level at 10,611.20, down 47.15 points or 0.45 per cent.

Global markets were weak today as a rise in United States bond yields to 3 per cent and warnings from bellwether United States companies of higher costs drove fears that corporate earnings growth may peak soon.

On the other hand, Wipro (3.30%), Infosys (2.49%), Tata Steel (1.23%), State Bank Of India (0.87%), Tata Consultancy Services (0.87%), Kotak Mahindra Bank (0.73%), and were the biggest losers in the Sensex. Bharti Airtel rose almost 3 per cent while Reliance Industries gained almost 1 per cent.




The BSE market breadth was bullish with 432 advances and 322 declines.

Among other Asian markets, Japan's Nikkei was up 0.67 per cent, while Hong Kong's Hang Seng index rose 1.20 per cent in early trade. TCS shares rose close to 2.5 per cent. China's Shanghai Composite index too was down 0.59 per cent.

"Market is waiting to take a direction amid mixed news..."

Meanwhile, domestic institutional investors (DIIs) bought shares worth a net Rs 387.26 crore, while foreign portfolio investors (FPIs) sold shares worth Rs 259.08 crore yesterday, provisional data released by the stock exchanges showed. USA stocks ended lower on Friday, as weakness in technology and consumer staples shares offset the latest batch of corporate earnings, which largely continued to beat expectations.


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