Indian markets trade in the positive zone after volatility marked the first hour of trade with the benchmark indexes failing to retain opening gains. The BSE Sensex was trading higher by 77 points to 36,449.63, rising by 0.21 percent, while the Nifty traded flat at 10, 981.55.
BSE MidCap is trading in the green with a marginal gain of 0.14 percent, while the Nifty MidCap is still trading in the red.
Index heavyweight stocks like HDFC, TCS lead among losers which also include Coal India, Hero MotoCorp, L&T, Hindalco, oil stocks, Bajaj Finance, while gainers include Vedanta, Tata Motors, M&M, Bharti Airtel, ONGC.
Most BSE sectoral indices are now in the positive zone but with minimal gains. Consumer Durables, Metal, Realty, Auto, Bankex have risen by up to 1.41 percent. IT, Teck, Telecom, Healthcare are in the negative zone.
NSE Sectoral indices too are somewhat similar with PSU Bank, Realty, Metal Bank, Auto in the positive zone, IT, Media, Pharma, Fin Service in the negative. Nifty Energy trades higher by 0.38 percent.
Market update as of 11.15 am) Here's how the markets fared in early trade
Indian market though opened higher on Thursday tracking gains in global markets, failed to retain the levels and slipped amid selling pressure and volatility. The benchmark indexes remained skittish over adverse political developments and lingering US-China trade war concerns.
The Sensex started higher at 36509.08, rising over 135 points, while the NSE Nifty 50 was below the 11,000 mark at 10,999.50. However, volatility kicked in within minutes with the Sensex dropping to 36,459.91.
ONGC, Bharti Airtel, Tata Motors, M&M, Adani Ports were among the early gainers, while Bharti Infratel, HPCL, BPCL, HDFC, Grasim, Coal India, ITC, IndusInd Bank, Hero MotoCorp were among the losers. Midcaps extended Wednesday’s losses, with both the Nifty MidCap and BSE MidCap down by a percent.
Among sectoral indices on the BSE, except consumer durables, all indices were trading lower with BSE Metal and basic materials being the top losers. BSE Healthcare and Bankex were down by 0.83 percent and 0.23 respectively.
On the NSE, all sectoral indices were trading in the red. Metal, pharma, PSU bank were leading with losses of 1.10 percent, 1.08 percent and 1.09 percent respectively. Nifty Energy is down by 0.23 percent.
The Indian rupee opened at 68.70 against the US dollar after Thursday's close of 68.62. So far this year, the rupee has weakened 6.7 percent.Asian markets were stready in early trade and continued to trade in the green. Japan's Nikkei was marginally higher at 0.17 percent, while Hong Kong's Hang Seng was trading flat. Japan's ministry of finance today reported a trade surplus of Yen 721.4 billion.