Sensex starts on weak note, Yes Bank recovers 4 per centhttps://indianexpress.com/article/business/business-others/sensex-starts-on-weak-note-yes-bank-recovers-4-per-cent-5706311/

Sensex starts on weak note, Yes Bank recovers 4 per cent

Top gainers in the early session were Yes Bank, Bharti Airtel, Hero MotoCorp, Sun Pharma, RIL, M&M, PowerGrid, HDFC Bank, IndusInd Bank, Bajaj Auto, L&T, Coal India and Kotak Bank, rising up to 3.66 per cent.

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According to traders, market sentiment was choppy as investors took weak cues from global equities after the US Federal Reserve Wednesday decided to keep its benchmark interest rate unchanged

The benchmark BSE Sensex started on a weak note Thursday tracking negative cues from global equities after the US Federal Reserve kept its benchmark interest rate unchanged.

After falling over 100 points in early trade, the 30-share index recovered lost ground and was trading marginally lower at 39,006.33. The NSE Nifty too was trading 14.65 points down at 11,733.50.

In the previous session on Tuesday, the BSE bourse closed with 0.09 per cent or 35.78 points loss at 39,031.55, while the NSE Nifty ended 0.06 per cent or 6.50 points lower at 11,748.15.

Top gainers in the early session were Yes Bank, Bharti Airtel, Hero MotoCorp, Sun Pharma, RIL, M&M, PowerGrid, HDFC Bank, IndusInd Bank, Bajaj Auto, L&T, Coal India and Kotak Bank, rising up to 3.66 per cent.

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On the other hand, Tata Motors, ICICI Bank, Infosys, Tata Steel, NTPC, TCS, HUL, Bajaj Finance, HCL Tech and ITC were among the top losers, shedding up to 1.94 per cent.

According to traders, market sentiment was choppy as investors took weak cues from global equities after the US Federal Reserve Wednesday decided to keep its benchmark interest rate unchanged amid mixed signals about the direction of the US economy.

On Wall Street, the S&P 500 index and the Nasdaq ended in the red on Wednesday.

Elsewhere in Asia, benchmark equity indices in Shanghai, Tokyo and Seoul were trading on a mixed note in early trade.

Brent crude futures, the global oil benchmark, were trading 0.28 per cent lower at USD 71.98 per barrel.

On the currency front, the rupee was trading flat at 69.57 against the US dollar in early trade.

Meanwhile, foreign institutional investors (FIIs) bought equity worth Rs 114.59 crore on Tuesday, while domestic institutional investors (DIIs) purchased shares to the tune of Rs 730.02 crore, provisional data available with stock exchanges showed.

The rupee appreciated by 9 paise to 69.47 against the US dollar in early trade Thursday driven by weakening of the greenback in overseas markets and sustained foreign fund inflows.

Forex dealers said, selling of the American currency by exporters, fresh foreign fund inflows and positive opening in domestic equities supported the rupee.

At the interbank foreign exchange, the rupee opened on a weak note at 69.60, but gathered momentum and rose to a high of 69.47 against the US dollar, showing 9 paise gain over its previous closing.

The local unit, however, pared some gains and was quoted at 69.54 against the American currency at 0951 hrs.

The rupee had settled at 69.56 against the US dollar on Tuesday.

The currency market was shut on Wednesday on account of Maharashtra Day. Meanwhile, foreign institutional investors (FIIs) remained net buyers in capital markets, putting in Rs 114.59 crore Tuesday, according to provisional exchange data.

Brent crude futures, the global oil benchmark, fell 0.29 per cent to trade at USD 71.97 per barrel.

Domestic bourses opened on a cautious note Thursday with benchmark indices Sensex trading 43.96 points up at 39,075.51 and Nifty down 7.15 points at 11,741.00.

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Meanwhile, the US Federal Reserve officials held key interest rates steady amid lack of inflationary pressures.