Economy

Sensex, Nifty trade flat amid weak Asian cues; sell-off pressure in global equity markets

Updated : June 26, 2018 10:34 AM IST

The Indian rupee has opened lower at 68.13 against the dollar.

The S&P 500 and Nasdaq posted their steepest losses in more than two months.

Indian equity markets are currently trading flat after opening lower amid a global sell-off pressure triggered by triggered by lingering concerns over US-China trade war. For the second consecutive day, the BSE Sensex and the NSE Nifty 50, opened in the red on Tuesday. The 30-share S&P BSE Sensex opened lower, slipping almost 100 points. The 50-share NSE Nifty declined 29.00 points to 10,733.50.

At 10.29am, the BSE Sensex was trading higher by 26.54 points, or 0.07 percent, at 35,496.89. The Nifty 50 was up by 7.50 points, or 0.07%, at 10,769.95. Coal India, Bajaj Finance, Bharti Airtel, HDFC, were top gainers in the range of 1.2-1.9 percent, while Tata Motors, HeroCorp, ICICI Bank, CIPLA were among top losers on the Nifty 50. Naukri, ACC, Glaxosmithkline Consumer Healthcare shares were among top gainers on the BSE.

The Indian rupee has opened lower at 68.13 against the dollar and has fallen further to 68.19, down 7 paise from its previous settlement.

Earlier, trends on the Singaporean Exchange indicated a negative opening for the Nifty. The SGX Nifty was trading around 10,735-level on the exchange.

The worsening trade ties between the US under President Donald Trump and other leading economies impacted the US markets. The S&P 500 and Nasdaq posted their steepest losses in more than two months, according to a Reuters report.

Tracking the cues on the Wall Street, Asian stocks weakened on Tuesday with the MSCI’s broadest index of Asia-Pacific shares outside Japan dipping 0.1 percent. Japan’s Nikkei lost 0.8 percent, South Korea’s KOSPI fell 0.55 percent and Australian stocks dropped 0.6 percent.

Oil prices rose on Tuesday on uncertainty over Libyan oil exports, although plans by producer cartel OPEC to raise output continued to drag. Brent crude futures, the international benchmark for oil prices, were at $74.95 per barrel at 0104 GMT, up 22 cents, or 0.3 percent from their last close. US West Texas Intermediate (WTI) crude futures were at $68.33 a barrel, up 25 cents, or 0.4 percent, according to Reuters.

Sensex, Nifty trade flat amid weak Asian cues; sell-off pressure in global equity markets

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