Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
12,086.70114.9
Stock Analysis, IPO, Mutual Funds, Bonds & More

Sensex, Nifty reverse opening gains; bank, FMCG top drag

BSE IT, teck and consumer durables index climbed over 1 per cent.

, ETMarkets.com|
Updated: Sep 04, 2018, 09.57 AM IST
0Comments
Sensex opens in green amidst SEBI India's statement release on FPI
Sensex opens in green amidst SEBI India's statement release on FPI
NEW DELHI: Headline indices Nifty and Sensex opened on a volatile note on Tuesday, tracking weak Asian peers in the wake of a simmering trade tussle between the US and China.

Rupee's unabated fall hit the sentiment on Tuesday after the Indian currency plunged another 14 paise to 71.35 against dollar in early trade on account of some buying in American currency by banks and importers.

Argentina's austerity measures to mitigate country's currency crisis raised concerns over trouble in emerging markets.

Asian shares fell in early trade, amid growing concerns over escalating international trade disputes and as emergency austerity measures in Argentina highlighted turbulence in emerging markets, Reuters reported.

Investors also noticed Nikkei India Manufacturing Purchasing Managers’ Index (PMI) that was released on Monday and showed growth in India’s manufacturing sector moderated in August as domestic demand softened. The Nikkei India Manufacturing PMI stood at 51.7 in August against 52.3 in July.

Around 9:30 am, the Sensex was 36 points, or 0.09 per cent down at 38,277, while the Nifty was 19 points, or 0.16 per cent down at 11,563.

IT stocks, including Infosys, TCS and Wipro were among the top gainers in the Sensex index, buoyed by the fall in Indian rupee. Reliance Industries, Tata Motors and Mahindra & Mahindra too were trading with gains.

However, Coal India, ITC, vedanta, Bajaj Auto and Hindustan Unilever were suffering losses.

BSE IT, teck and consumer durables index climbed over 1 per cent, but FMCG, bank, finance and telecom indices were subdued.

Also Read

Four factors behind Sensex's 428 point rally

YES Bank shares fall 2% on Sensex rejig

Sensex, Nifty trade lower; Infosys slips 3%

Why is Sensex rallying despite poor health of the economy?

Sensex, Nifty open with gains; Infosys plunges

Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.

Other useful Links


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service