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Sensex, Nifty Turn Cautious on Mixed Global Cues

Breaking its three-day winning streak, the 30-share index turned choppy and was trading 25.93 points, or 0.07 per cent, lower at 35,903.71.

PTI

Updated:December 14, 2018, 10:16 AM IST
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Sensex, Nifty Turn Cautious on Mixed Global Cues
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Mumbai: Benchmark equity indices Friday opened on a cautious note amid negative signals from other Asian markets, and mixed macro cues like weakening rupee and easing crude prices.

Breaking its three-day winning streak, the 30-share index turned choppy and was trading 25.93 points, or 0.07 per cent, lower at 35,903.71.

The NSE Nifty saw similar movement, shedding 5.55 points, 0.05 per cent, to 10,786.00.

The Sensex Thursday climbed 150.57 points, or 0.42 per cent, to end at 35,929.64, while the broader NSE Nifty rose 53.95 points, or 0.50 per cent, to 10,791.55.

Investors were also on edge ahead of RBI central board meeting under new Governor Shaktikanta Das, traders said.

The meeting will review the progress with respect of some of the decisions taken in the last meet on November 19. Among other things, the crucial board meeting is expected to take a stock of micro, small and medium enterprises (MSMEs), which is under stress due to demonetisation and implementation of the goods and services tax (GST).

This scheduled meeting comes in the backdrop of surprise resignation by Urjit Patel earlier this week citing personal reasons. However, the tussle between the Finance Ministry and RBI was attributed as reason for the sudden exit of Patel, who would have completed his 3-year term in September 2019.

Top losers in morning trade Adani Ports, Maruti, ONGC, Hero MotoCorp, Coal India and Reliance Industries, shedding up to 1 per cent.
Top gainers include Bharti Airtel, Yes Bank, Infosys, Asian Paints, Wipro ICICI Bank, ITC, Tata Steel, HDFC Bank and TCS, rising up to 3 per cent.

The rupee, meanwhile, was trading marginally lower at 71.79 against the US dollar.

On a net basis, foreign portfolio investors (FPIs) bought shares worth Rs 675.14 crore Thursday, while domestic institutional investors (DIIs) were sellers to the tune of Rs 51.86 crore, provisional data available with BSE showed.

Elsewhere in Asia, Hong Kong's Hang Seng was down 1.32 per cent, Japan's Nikkei fell 1.73 per cent, and Shanghai Composite Index was down 0.57 per cent in early trade.

On Wall Street, the Dow Jones Industrial Average index rose 70.11 points, or 0.29 per cent, to 24,597.38 on Thursday.

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Company Price Change %Gain
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Reliance 1,182.95 4.34
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Top Losers
Company Price Change %Gain
Sun Pharma 390.75 -8.39
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