Sensex, Nifty turn choppy amid weak global cues, fresh selling by FIIs; SBI, Vedanta, ICICI Bank stocks slip

After falling over 100 points in the opening session, the 30-share index was trading 40.01 points or 0.10% lower at 39,709.72

Press Trust of India May 29, 2019 10:01:46 IST
Sensex, Nifty turn choppy amid weak global cues, fresh selling by FIIs; SBI, Vedanta, ICICI Bank stocks slip
  • After falling over 100 points in the opening session, the 30-share index was trading 40.01 points or 0.10% lower at 39,709.72

  • NSE Nifty slipped 8.85 points or 0.07% to 11,919.90

  • Benchmarks on Wall Street too ended in the red in Tuesday's session

Mumbai: Domestic equity benchmarks opened on a negative note Wednesday amid weak global cues and fresh foreign fund outflow.

After falling over 100 points in the opening session, the 30-share index was trading 40.01 points or 0.10 percent lower at 39,709.72. Similarly, the broader NSE Nifty slipped 8.85 points or 0.07 percent, to 11,919.90.

In the previous session on Tuesday, the BSE gauge closed 66.44 points or 0.17 percent, higher at 39,749.73—its all-time closing high; while the NSE benchmark Nifty logged a marginal rise of 4 points or 0.03 percent to settle at 11,928.75—a new closing peak for the index.

Top losers in the Sensex pack include SBI, Vedanta, ICICI Bank, ONGC, Bharti Airtel, Sun Pharma, Tata Motors, Asian Paints, Maruti and Kotak Bank, slipping up to 2 percent. While, TCS, HCL Tech, PowerGrid, Infosys, Yes Bank, M&M, L&T, HDFC Bank, NTPC, ITC, HUL and Axis Bank rose up to 1.56 percent.

Sensex Nifty turn choppy amid weak global cues fresh selling by FIIs SBI Vedanta ICICI Bank stocks slip

Representational image. Reuters.

According to traders, the market turned choppy tracking weak cues from global markets and fresh selling of equities by foreign institutional investors (FIIs).

FII sold equity worth Rs 501.11 crore on Tuesday, while domestic institutional investors (DIIs) purchased shares to the tune of Rs 269.22 crore, provisional data available with stock exchanges showed.

Elsewhere in Asia, bourses in China, Japan and Korea were trading on a negative note in their respective early sessions.

Benchmarks on Wall Street too ended in the red in Tuesday's session.

On the currency front, the rupee depreciated 14 paise to 69.83 against the US dollar.

Brent crude, the global benchmark, slipped 0.74 percent to 68.16 per barrel.

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