Sensex, Nifty Turn Choppy Amid Cautious Trade: 10 Things To Know

The S&P BSE Sensex moved in a range of 37,703.49-37,478.87, rising and falling as much as 167.83 points and 56.79 points respectively.

Sensex, Nifty Turn Choppy Amid Cautious Trade: 10 Things To Know

Top gainers on the 50-scrip index were HCL Tech, IndusInd Bank, HDFC Bank, Infosys and Hindustan Unilever

Domestic stock markets turned choppy after starting Wednesday's session on a higher note. The S&P BSE Sensex moved in a range of 37,703.49-37,478.87, rising and falling as much as 167.83 points and 56.79 points respectively. The Nifty50 barometer of the National Stock Exchange (NSE) rose 40.9 points and shed 24.6 points from the previous close in intraday trade. On Tuesday, the BSE and NSE benchmark indices had finished the session with gains of 1.30 per cent and 1.19 per cent respectively.

Here are 10 things to know about stock markets today:

  1. At 10:12 am, the 30-share benchmark index traded 84.57 points or 0.23 per cent higher at 37,620.23, and the Nifty was at 11,317.30, up 16.10 points or 0.14 per cent from the previous close.

  2. Top gainers on the 50-scrip index were HCL Tech, IndusInd Bank, HDFC Bank, Infosys and Hindustan Unilever, trading between 0.89 and 1.80 per cent higher.

  3. Indian Oil, NTPC, ONGC, Hindustan Petroleum and Tata Motors were the prominent losers on Nifty, trading between 1.76 and 3.37 per cent lower.

  4. Banking, IT and financial stocks were trading higher. While Nifty metal index was down 1.63 per cent at that time. 

  5. According to analysts, the domestic indices started the session on higher note, driven by positive factors like sustained foreign fund inflows, stronger rupee and chances of the incumbent NDA government coming for a second term.    

  6. However, investors soon turned cautious, capping gains on bourses, tracking inflation data that were released on Tuesday after market hours, traders were quoted as saying in news agency Press Trust of India (PTI) report.

  7. Consumer inflation jumped to a four-month high of 2.57 per cent in February, and industrial growth slipped to 1.7 per cent on account of manufacturing sector slowdown, data released by the Central Statistics Office (CSO) showed.

  8. The rupee, meanwhile, appreciated by 8 paise to 69.63 against the dollar in opening trade on Wednesday.

  9. Asian share markets were also mostly in the red on Wednesday as a risk-off mood gripped investors, while a frazzled pound awaited its fate ahead of yet another make-or-break parliamentary vote on Brexit. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.4 per cent in slow trade.

  10. On a net basis, foreign institutional investors (FIIs) bought shares worth a net of Rs 2,477.72 crore on Tuesday, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 990.48 crore, provisional data available with NSE showed.    

(With inputs from agencies)