Sensex, NSE Nifty Start On Volatile Note Amid Weakening Rupee


Mumbai: The BSE benchmark Sensex and NSE Nifty on Friday started on a volatile note tracking heavy selling on pharma and banking counters amid weakening rupee. After opening marginally higher, the 30-share index turned negative and was trading 79.53 points, or 0.22 per cent, lower at 36,294.55 in early trade. Similarly, the NSE Nifty slipped 16.25 points, or 0.15 per cent, to 10,888.95.

On Thursday, the Sensex settled 52.79 points or 0.15 per cent, higher at 36,374.08; and the broader NSE Nifty inched up 14.90 points, or 0.14 per cent, to 10,905.20. In the morning session on Friday, Sun Pharma was the biggest loser on Sensex, cracking up to 10 per cent. Other losers were Yes Bank, Bharti Airtel, HUL, Axis Bank, M&M, Coal India, Asian Paints, Tata Motors and TCS, shedding up to 1.49 per cent. ONGC, PowerGrid, RIL, Vedanta and Maruti were the top gainers, rising up to 1 per cent.

On a net basis, foreign portfolio investors (FPIs) purchased shares worth Rs 842.13 crore Thursday, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 727.46 crore, provisional data available with BSE showed.

According to analysts, global trade tensions and risk of recession will cast cloud over the sentiment; while lack of major triggers in the domestic market could steer a range bound movement in the near term. The rupee, meanwhile, depreciated 18 paise against the US dollar to 71.21. The benchmark Brent crude futures rose 0.88 per cent to USD 61.72 per barrel.