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Sensex, Nifty start flat amid weak Asian cues; rupee opens marginally stronger

Sensex, Nifty start flat amid weak Asian cues; rupee opens marginally stronger

Sensex, Nifty start flat amid weak Asian cues; rupee opens marginally stronger
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By Ajay Vaishnav  Sept 5, 2018 9:43:24 AM IST (Published)

Rupee opened slightly stronger against the dollar at 71.40.

Indian equity indices, the BSE Sensex and the NSE Nifty 50, started on a flat note on Wednesday. However, the market soon turned volatile on profit-booking and weak global cues.

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The BSE Sensex opened in the green, rising by 35 points to 38,198.95, while the NSE Nifty 50 started marginally lower at 11,514.85, down by 5.45 points.
Midcaps remained under pressure, opening lower by 0.15 percent. Bank Nifty was flat, starting lower by 0.08 percent, slightly above the 27,400 mark.
Sun Pharma, Dr Reddy's Labs, Wipro, M&M, Reliance, ITC gained in early trade, while Coal India, Hindustan Unilever, Vedanta, Tata Motors, Hero MotoCorp, IndusInd Bank were among the laggards. Banks, metal, auto and consumer shares dipped. Shares of oil marketing companies also traded lower.
The Indian rupee opened slightly stronger against the dollar at 71.40. The Indian rupee ended at record low of 71.58 against the dollar on Tuesday against Monday's close of 71.21. The home currency fell against the greenback for the fifth consecutive session.
Asian markets slipped on trade war concerns and the ongoing turmoil in emerging market currencies. Hong Kong's Hang Seng dropped nearly 2 percent.
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