Sensex Trades In Red, Nifty At 10,767; RIL Falls Nearly 2% After AGM

Domestic markets opened on a positive note on Thursday as the benchmark indices edged up. The S&P BSE Sensex opened at 35,703 level, 58 points higher against the previous session's closing. The NSE Nifty rose 16 points higher to hit 10,786 in the opening trade. However, soon after opening in the positive territory, Sensex traded in the red. At 2.07 pm, Sensex traded 35,625, 20 points lower, while NSE's Nifty traded 10,766, lower by 4 points. Reliance Industries Ltd (RIL) shares traded at Rs 973.50, 1.65 per cent lower on BSE. On NSE, Reliance Industries shares traded at Rs 973.6, lower by 1.67 percent in the NSE. The scrip had closed nearly 2 percent higher on Wednesday. 

On Wednesday, S&P BSE Sensex rose 266.80 points, or 0.75 per cent, to close at 35,645.40. The NSE's Nifty50 index surged 70 points or 0.65 per cent and settled at 10,769.90. Domestic equity indices closed in green as government's decision to raise the minimum support price (MSP) or purchase price for paddy crops up to Rs. 200 per quintal boosted sentiment.

After strong overnight recovery, the Indian rupee on Wednesday reversed most of its gains towards the fag-end session, losing 17 paise at 68.74 against the US dollar amid rising crude oil prices and inflationary concerns after MSP hike for kharif crops by the government, PTI reported.

In the international markets, Asian stocks were shaky while major currencies barely budged in early trade on Thursday, as financial markets remained in a state of anxious uncertainty on the eve of a U.S. deadline to slap tariffs on Chinese imports. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.1 percent, having moved in and out of the red in early trade. The index has lost 1.6 percent this week, during which it plumbed a nine-month low. Asia was bereft of the usual leads as the U.S. markets were closed on Wednesday for the Independence Day holiday, reported Reuters.