MARKETS LIVE: Indices pare opening gains to turn flat; Nifty holds 11,550

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SI Reporter  |  New Delhi 

Market Check Index Current Pt. Change % Change   S&P BSE SENSEX 38,269.75 -9.00 -0.02   S&P BSE SENSEX 50 12,097.02 0.02 0.00   S&P BSE SENSEX Next 50 34,446.98 +41.63 +0.12   S&P BSE 100 11,843.27 +2.18 +0.02   S&P BSE Bharat 22 Index 3,658.92 +3.68 +0.10 Sebi mulls hiking minimum ticket size for investment in PMS schemes   The Securities and Exchange Board of India (Sebi) is considering doubling or even quadrupling the minimum ticket size for investment in portfolio management services (PMS) schemes. The regulator is worried about the current investment limit of Rs 2.5 million may be inadequate to prevent retail investors from using this route.   Investors without sufficient knowledge of the risks that accompany investment in PMS schemes could end up burning their fingers if there was a sharp correction in Indian equities. READ MORE HCL Technologies stock reacts to company's share buyback plan Nifty sectoral trend BSE Sensex gainers and losers Market at open   The indices opened to fresh record highs. At 9:16 AM, the S&P BSE Sensex was trading at 38,347, up 68 points while the broader Nifty50 was ruling at 11,575, up 24 points.

Benchmark indices turned flat following Asian markets after US President Donald Trump said that he does not expect much progress from trade talks with China this week in Washington. He said in an interview with Reuters that he had “no time frame” for ending the trade dispute with China, which threatens to impose tariffs on virtually all goods traded between the world’s two largest economies. 

Rupee, however, rebounded as dollar dipped after US President Donald Trump accused China and Europe of manipulating their currencies. He also added that he was “not thrilled” with the Federal Reserve for hiking interest rates.

Among Asian markets, MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.02 per cent. Australian stocks lost 0.7 per cent, South Korea's KOSPI nudged up 0.1 per cent and Japan's Nikkei fell 0.6 per cent.

Back home, Fitch said in a statement that the recent sharp sell-off in the rupee will have limited impact on India’s sovereign credit profile due to relatively strong external finances, especially the low level of external debt. But there could be further bouts of pressure as global monetary tightening progresses.
First Published: Tue, August 21 2018. 08:15 IST