Sensex, Nifty Fluctuate In Early Trade

Indian shares rise; TCS market cap crosses $100 bln

On Tuesday, Sensex rallied 165.87 to settle at 34,616.64 and the Nifty ended 29.65 points higher at 10,614.35. Markets in Asia opened lowered on Wednesday, following an overnight drop in U.S. stocks where the Dow fell more than 400 points.

Index heavyweights like Reliance Industries (RIL), Yes Bank, Adani Ports, Mahindra and Mahindra, and Larsen and Toubro were the top gainers on the BSE. Similarly, the NSE Nifty fell below the 10,600 mark, shedding 25.85 points, or 0.24 per cent, to 10,588.50.

The Sensex was up 140.70 points or 0.41 per cent at 34,556.28 and the Nifty up 45.95 points or 0.43 per cent at 10,610.

Top five Sensex gainers were TCS, YES Bank, IndusInd Bank, Bharti Airtel and M&M, while the major losers were ICICI Bank, Hero MotoCorp, HDFC Bank, Coal India and HUL.

The BSE IT index rose after rupee fell to a 14-month low of 66.825 against the dollar on bouts of month-end dollar demand from importers amid crude price volatility and rising USA bond yields.

Shares of Indiabulls Housing Finance Company gained as much as 2.1 per cent to Rs 1,385 on strong Q4 profit.

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About 1,478 shares declined against 1,179 advancing shares on the BSE.

The broader markets underperformed the benchmark index, with the S&P BSE mid-cap index closing lower by 0.02 per cent and the small-cap index by 0.13 per cent.

Worldwide oil prices hit their highest levels since late 2014 due to expectations of renewed USA sanctions against Iran and as OPEC continued withholding supplies amid strong demand.

In other Asian markets, Hong Kong's Hang Seng rose 1.20 percent while Japan's Nikkei was up to 0.67 percent in early trade.

Foreign institutional investors sold scrip worth Rs 680.99 crore, while the domestic institutional investors purchased stocks worth Rs 508.55 crore, provisional data with the exchanges showed.

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