Domestic equity benchmarks BSE Sensex and NSE Nifty started on a choppy note today, tracking weak cues from global equities amid concerns of a global economic slowdown.
The 30-share index was trading 23.52 points, or 0.06%, higher at 39,710.02 at 0930 hours. Similarly, the broader Nifty was quoting 8.70 points, or 0.07%, up at 11,874.30.
In the previous session on July 1, the BSE gauge settled with 291.86 points, or 0.74%, gains at 39,686.50, and the Nifty advanced 76.75 points, or 0.65%, to end at 11,865.60.
Top gainers in the Sensex pack in early trade included ONGC, IndusInd Bank, NTPC, RIL, L&T, HDFC, Bharit Airtel, Maruti and SBI, rising up to 1.15%.
Yes Bank witnessed heavy selling pressure, falling up to 6%, followed by Tata Motors, Hero MotoCorp, Sun Pharma, TechM, Bajaj Auto and M&M which slipped up to 1.76%.
According to traders, investors are cautious ahead of the Union Budget, scheduled for July 5.
In early session, domestic investors followed cues from other Asian equities which turned volatile amid fears of a global economic slowdown after reports of weakening manufacturing growth from the U.S., the euro zone, as well as India.
Shanghai Composite Index, Hang Seng, Nikkei and Kospi were trading on a mixed note in their respective early sessions. Bourses on Wall Street ended significantly higher on July 1.
The global oil benchmark Brent crude futures were trading 0.20% lower at 64.93 per barrel.
On the currency front, the Indian Rupee depreciated 9 paise to 69.03 against the U.S. Dollar.
Meanwhile, on a net basis, foreign institutional investors bought equities worth ₹426.53 crore, while domestic institutional investors sold shares to the tune of ₹50.99 crore, provisional data available with stock exchanges showed.
