Sensex, Nifty start on a cautious note amid weak cues from Asian markets, rising crude prices

Mumbai: Domestic equity benchmarks BSE Sensex and NSE Nifty started on a cautious note on Monday amid weak cues from other Asian markets and rising crude prices. The 30-share index was trading 50.59 points or 0.13 percent higher at 39,245.08 at 0930 hours. Similarly, the broader NSE Nifty was quoting 5.55 points or 0.05 percent up at 11,729.65. In the previous session Friday, the BSE gauge settled 407.14 points or 1.03 percent lower at 39,194.49, and the broader NSE Nifty tumbled 107.65 points or 0.91 percent to 11,724.10. Top gainers in the Sensex pack included IndusInd Bank, L&T, Bharti Airtel, Asian Paints, TCS, NTPC, SBI, ITC, HDFC twins, ICICI Bank and Infosys, rising up to 1.35 percent. While, Bajaj Auto, Hero MotoCorp, TechM, ONGC, Sun Pharma, Tata Motors and RIL shed up to 2.31 percent. [caption id=“attachment_4396373” align=“alignleft” width=“380”]  Stock trader. Representational image. Reuters[/caption] According to experts, volatility in crude oil prices due to global political uncertainty has dampened investor sentiment. Going ahead, the upcoming Union Budget will remain the key event in the market. The global oil benchmark Brent crude futures rose 0.40 percent to 64.71 per barrel. On the currency front, the Indian rupee was trading almost flat at 69.57 against the US dollar. Elsewhere in Asia, Shanghai Composite Index, Hang Seng, Nikkei and Kospi were trading on a positive note in their respective early sessions. On Wall Street, S&P500 and Nasdaq ended in the red on Friday. Meanwhile, on a net basis, foreign institutional investors sold equity worth Rs 730.58 crore, while domestic institutional investors purchased shares to the tune of Rs 445.75 crore, provisional data available with stock exchanges showed Friday.