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Sensex, Nifty open flat; metal, auto stocks drag

Sensex, Nifty open flat; metal, auto stocks drag

Sensex, Nifty open flat; metal, auto stocks drag
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By CNBC-TV18 Mar 7, 2019 9:54:06 AM IST (Published)

Benchmark Indices opened on a cautious note as investors remained awaited US-China deal resolution. The indices remained in green, however, as sentiment was lifted after rupee gained past 70 a dollar mark

Indian shares opened on a cautious note, tracking global cues as Asian stocks edged lower amid ongoing US-China trade negotiations. The BSE Sensex rose 49 points to 36,682 at 9.20 AM, and the broader NSE Nifty50 was ruling at 11,055, adding 2 points.

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The rupee strengthened against the US dollar. At 09:10 AM, the rupee was trading at 70.02 a dollar, up 26 paise from its Wednesday’s close of 70.28. The home currency opened at 70.09 and touched a high and a low of 70.01 and 70.11 a dollar, respectively.
BPCL, Bajaj Finance, ICICI Bank, Hindalco, and Vedanta were top performers on Nifty50 while Indiabulls Housing Finance, Vedanta, Coal India, Wipro and Grasim were the biggest draggers on the index.
Among sectors, Nifty Metal fell the most, down 0.7 percent, followed by Nifty Pharma, Nifty Bank, however, Nifty FMCG, Nifty IT, and Nifty Realty traded in green.
Dewan Housing Finance Corporation fell nearly 3 percent in early morning deals after rallying 19 percent on Tuesday in the intra-day deal as CARE Ratings cuts long-term ratings of the company.
Globally, Asian shares rose marginally in early trade on Thursday, with caution prevailing as investors awaited some kind of resolution to US-China trade negotiations, while the euro remained under pressure ahead of the European Central Bank meeting.
Japan’s Nikkei average fell 0.6 percent, while Australian shares added 0.2 percent.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.1 percent in early trade. It was not far from its five-month high marked last week and was up 10.4 percent year-to-date.
(With inputs from Reuters)
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