Markets open higher; turn choppy later amid mixed global trends


Equity benchmarks started the trade on a positive note on Friday, with the Sensex climbing over 113 points in early trade, amid mixed trends from global equities.

The 30-share BSE index advanced 113.2 points to 60,411.20 in early deals. The broader NSE Nifty climbed 35.7 points to 17,992.20.

Later, both the benchmark indices turned volatile, with the Sensex and the Nifty swinging between gains and losses.

From the Sensex pack, Tech Mahindra, Kotak Mahindra Bank, Wipro, Tata Consultancy Services, Larsen & Toubro, HCL Technologies, Infosys, Titan, Sun Pharma and UltraTech Cement were among the major gainers in early trade.

On the other hand, IndusInd Bank, Power Grid, ICICI Bank, NTPC and State Bank of India were among the biggest laggards.

In Asia, markets in Seoul and Shanghai were trading lower, while Tokyo and Hong Kong quoted in the green in mid-session deals.

Markets on the Wall Street had ended higher on Thursday.

The BSE benchmark index had ended 37.87 points or 0.06 per cent higher at 60,298 on Thursday. The Nifty gained 12.25 points or 0.07 per cent to settle at 17,956.50.

Meanwhile, the international oil benchmark Brent crude was trading 0.38 per cent lower at USD 96.21 per barrel.

Foreign Institutional Investors (FIIs) offloaded shares after many days as they sold shares worth Rs 1,706 crore on Thursday, according to exchange data.

“The market momentum which pushed the Nifty up by 18 per cent from the June lows is likely to face some headwinds from now on. The sudden sharp spike in the dollar index will impact capital flows to emerging markets like India. The consistent FII buying seen in August is likely to lose steam impacting sentiments,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

(Except for the headline, this story has not been edited by The Federal staff and is auto-published from a syndicated feed.)