Stock Market: Sensex Dips Marginally By 7 Points, Nifty Holds 17,550 Tracking High Volatility

Sensex and Nifty, two key equity benchmarks, on Wednesday opened flat amid weak global cues. The two domestic indices gave up early gains tracking high volatility in the international markets.

At 10.30 am, the BSE Sensex was down marginally by 7 points to 59,024, while the broader NSE Nifty was trading at 17,575, down 2 points.

On the 30-share Sensex platform, Asian Paints, Titan, Larsen & Toubro, Maruti, Hindustan Unilever, Nestle, Tata Steel, Bharti Airtel, and State Bank of India were among the major laggards. On the flip side, IndusInd Bank, Sun Pharma, Reliance Industries, ITC, and Power Grid were the gainers.

The mood of the 30-share Sensex was negative as 11 scrips were advancing while 19 were declining.

In the broader markets, Nifty Midcap 100 and Nifty Smallcap 100 surged up to 0.5 per cent.

Sectorwise, Nifty Media and Nifty Realty opened with marginal gains. Nifty Auto and Nifty Financial Services, however, opened with minor losses.

The BSE benchmark climbed 257.43 points or 0.44 per cent to settle at 59,031.30 on Tuesday. The Nifty advanced 86.80 points or 0.50 per cent to 17,577.50.

In Asian markets, Shanghai, Tokyo, and Hong Kong quoted lower, while Seoul traded in the green in mid-session deals. The Wall Street had ended lower on Tuesday.

The international oil benchmark Brent crude declined 0.40 per cent to $99.82 per barrel.

Foreign Institutional Investors (FIIs) bought shares worth Rs 563 crore on Tuesday, according to exchange data.

Meanwhile, the rupee depreciated 4 paise to 79.87 against the US dollar in opening trade on Wednesday, tracking the strength of the American currency in the overseas market.

At the interbank foreign exchange, the rupee opened at 79.84 against the dollar, then fell to 79.87, registering a decline of 4 paise over the last close.

On Tuesday, the rupee moved up 1 paisa to settle at 79.83 against the dollar.