Markets

Sensex, Nifty turn choppy on tepid global cues

Retreating from its record high, the 30-share BSE index was trading 24.89 points or 0.06% lower at 41,533.68 in opening session. | File

Retreating from its record high, the 30-share BSE index was trading 24.89 points or 0.06% lower at 41,533.68 in opening session. | File   | Photo Credit: PAUL NORONHA

According to traders, global investors turned cautious after over U.S. President Donald Trump’s impeachment

Equity benchmarks Sensex and Nifty started on a choppy note on Thursday as global investors turned cautious over U.S. President Donald Trump’s impeachment.

Retreating from its record high, the 30-share BSE index was trading 24.89 points or 0.06% lower at 41,533.68 in opening session.

Similarly, the broader NSE Nifty slipped 7.60 points or 0.06% to 12,214.30.

Yes Bank was the top loser in the Sensex pack falling up to 2.46%, followed by IndusInd Bank, ICICI Bank, Sun Pharma, HDFC, Tata Steel and Bharti Airtel.

On the other hand, M&M was the top gainer, rising up to 1.26%. HCL Tech, Tata Motors, Asian Paints, TCS and HUL were also trading in the green.

In the previous session, the 30-share gauge settled 206.40 points, or 0.50%, up at its all-time closing high of 41,558.57, and the Nifty advanced 56.65 points, or 0.47%, to its record closing peak of 12,221.65.

According to traders, global investors turned cautious after U.S. Donald Trump became the third President in U.S. history to be impeached.

The House of Representatives formally charged him with abuse of power and obstructing the Congress, setting up a Senate trial next year that will decide whether he remains in office after three tumultuous years.

Meanwhile, on a net basis, foreign institutional investors bought equities worth ₹1,836.81 crore, while domestic institutional investors sold shares worth ₹1,267.57 crore on Wednesday, data available with stock exchange showed.

Bourses in Hong Kong, Shanghai, Tokyo and Seoul were trading on a negative note. Benchmarks on Wall Street ended flat on Wednesday.

Brent futures, the global oil benchmark, slipped 0.02% to $66.16 per barrel.

Meanwhile, the rupee depreciated marginally to 70.98 against the U.S. dollar in morning session.

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Printable version | Feb 19, 2020 2:16:18 PM | https://www.thehindu.com/business/markets/sensex-nifty-turn-choppy-on-tepid-global-cues/article30345666.ece

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