Sensex, Nifty Fluctuate In Early Trade

Sensex, Nifty Fluctuate In Early Trade

Sensex, Nifty Fluctuate In Early Trade

At 10:00, indices extended losses, with the Sensex falling 100.91 points to 34,515.73 and the Nifty declining 36 points to 10,578.40.

Coal India, Hero MotoCorp, Infosys and ICICI Bank fell 1-2 percent in the Nifty pack, while IndusInd Bank, BPCL, Zee Entertainment Enterprises and HPCL gained 1-2 percent.

While the Sensex fell over 115 points to 34,501, the Nifty ended 43 points lower at 10,570 today.

On the other hand, the S&P BSE metal index declined by 265.55 points, IT index by 227.26 points and Teck (technology, media and entertainment) index by 104.52 points. Chinese shares climbed 1.9 percent, while Hong Kong's Hang Seng index rose 1 percent.

Meanwhile, on a net basis, domestic institutional investors (DIIs) bought shares worth a net Rs 387.26 crore, while foreign portfolio investors (FPIs) sold shares worth a net Rs 259.08 crore yesterday, per provisional data showed. Medical equipment maker Terumo Corp stumbled 3.4 per cent and SoftBank shed 1.0 per cent, collectively knocking 25 points off the Nikkei.

Domestic indices were trading flat owing to weak Asian cues.

The BSE IT index rose after rupee fell to a 14-month low of 66.825 against the dollar on bouts of month-end dollar demand from importers amid crude price volatility and rising USA bond yields.

However, heavy selling pressure in metals, IT and consumer durables stocks, along with outflow of foreign funds and higher crude oil prices, trimmed some gains of the benchmark indices, market observers said.

Asian stocks dipped as investors braced for a bevy of earnings from the world's largest corporations, while keeping a wary eye on USA bond yields as they approach peaks that have triggered market spasms in the past.

The gainers included Yes Bank, M&M, Adani Ports, ICICI Bank, L&T, HDFC, Bajaj Auto, Dr Reddy's and ONGC.

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