Market

Sensex, Nifty start flat on tepid cues; midcaps surge

Updated : August 29, 2018 11:13 AM IST

Shares of Vedanta, Bharti Airtel, Gail, Adani Ports, Power Grid, SBI, Tata Motors gained.

Yes Bank, Coal India, Infosys, TCS, HDFC Bank, Lupin, HCL Technologies, UltraTech Cement slipped lower.

Sensex, Nifty start flat on tepid cues; midcaps surge

Indian equity indices opened flat on Wednesday amid tepid cues. The Sensex started near 39,000 at 38,989.65, jumping 93.02 points. The Nifty 50 opened at 11,744.95, up by 6.45 points.

In initial trade, the 30-share BSE index slipped lower by over 18 points to 38,878.48. The 50-share broader NSE index also traded below flatline at 11,738.15.

Both midcaps were trading positive, with the Nifty MidCap higher by 0.77 percent and the BSE MidCap rising by 0.65 percent.

Vedanta, Bharti Airtel, Gail, Adani Ports, Power Grid, SBI, Tata Motors gained by up to 2.3 percent, while Yes Bank, Coal India, Infosys, TCS, HDFC Bank, Lupin, HCL Technologies, UltraTech Cement slipped lower by 1.51 percent.

Sectoral indices on the BSE too largely traded flat with 5 out of 19 indices slipping lower.

On the NSE, PSU Bank rose 0.61 percent, followed by pharma with 0.58 percent rise. Metal also rose by 0.33 percent, while others were marginally up or in the red.

The Indian rupee opened weaker against the dollar at 70.32. The Indian rupee on Tuesday gained 6 paise to end at 70.10 against the US currency.

Asian shares were also largely positive with Japan's Nikkei up by half a percent at 9.30 am IST. Hong Kong's Hang Seng gained 0.21 percent, while South Korea's Kospi was up by 0.23 percent. Shanghai Composite gained 0.35 percent.

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