Sensex, Nifty open flat as Wall Street plunges for third straight day, Wipro shares up over 2%

By: | Updated: March 15, 2018 9:28 AM

Indian stock markets opened flat on Thursday with Sensex starting in green while Nifty beginning in the negative territory as the major indices of Wall Street plunged for the third consecutive day while shares of Wipro jumped over 2% in the morning deals.

The benchmark Sensex opened 7.73 points or 0.02% higher at 33,843.47. (Image: Reuters)

Indian stock markets opened flat on Thursday with Sensex starting in green while Nifty beginning in the negative territory as the major indices of Wall Street plunged for the third consecutive day. The benchmark Sensex opened 7.73 points or 0.02% higher at 33,843.47 and the broader share indicator Nifty opened 5.45 points or 0.05% lower at 10405.45 on Thursday. Shares of ONGC and Dr Reddy’s emerged as the lead gainers among the Sensex components while Axis Bank and Sun Pharma inched down. Shares of Bharti Airtel dropped 0.36% to Rs 421 after India’s largest telecom operator on Wednesday approved the allotment of 30,000 debentures for raising about Rs 3,000 crore via private placement.

Shares of ICICI Bank traded little changed, up 0.18% at Rs 306.9 after the financial conglomerate fixed a price band for the IPO of ICICI Securities at Rs 519 to Rs 520 per equity share and is expected to raise around Rs 4,000 crore by selling about 7.72 crore shares through an offer for sale route. Shares of Wipro jumped 0.56% to Rs 295 after India’s third-largest IT company signed a definitive agreement to divest its hosted data centre services business to Ensono for $405 million.

Within minutes of opening, the S&P BSE Sensex dived 66.48 points to a day’s low of 33,769.26. A mixed trade was witnessed in Indian equities on Thursday as the sectoral indices such as Nifty IT, Nifty Pharma, Nifty PSU Bank were the only notable gainers. The volatility indicator on NSE, India Vix was down 0.78% at 14.2500 on Thursday.

US stock markets inched lower on Wednesday after President Donald Trump sought to impose fresh tariffs on China, intensifying fears of a trade war that could raise costs and hurt overseas sales for US companies, Reuters reported. The Dow Jones Industrial Average fell 248.91 points or 1% to end at 24,758.12, the S&P 500 lost 15.83 points or 0.57% to 2,749.48 and the Nasdaq Composite dropped 14.20 points or 0.19% to 7,496.81.

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