Sensex, Nifty open on flat note amid weak global cues

Tech Mahindra was the top loser in the Sensex pack, followed by M&M, Dr Reddy’s, Axis Bank, Sun Pharma, Titan and UltraTech Cement

Equity benchmarks Sensex and Nifty opened on a tepid note on September 9 amid negative cues from global markets.

The 30-share Sensex was trading 46.4 points or 0.08% lower at 58,203.86. Similarly, Nifty slipped 5.85 points or 0.03% to 17,347.65 in initial deals.

Tech Mahindra was the top loser in the Sensex pack, shedding around 1%, followed by M&M, Dr Reddy’s, Axis Bank, Sun Pharma, Titan and UltraTech Cement.

On the other hand, Kotak Bank, Bharti Airtel, SBI, Bajaj Finserv and Nestle India were among the gainers.

In the previous session, the 30-share index ended 29.22 points or 0.05% lower at 58,250.26, and Nifty slipped 8.60 points or 0.05% to 17,353.50.

Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth ₹802.51 crore on September 8, as per provisional exchange data.

Domestic bourses appeared to be fatigued in recent trades after witnessing record highs in the last few weeks, said Binod Modi Head-Strategy at Reliance Securities.

Elsewhere in Asia, bourses in Hong Kong, Tokyo and Seoul were trading with losses in mid-session deals, while Shanghai was positive.

U.S. equities ended on a negative note in the overnight session.

Meanwhile, international oil benchmark Brent crude rose 0.22% to $72.76 per barrel.

Source: Read Full Article