MARKETS LIVE: Rupee hits record low of 70.82/$; indices trade flat

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SI Reporter  |  New Delhi 

BSE, NSE, Markets, SENSEX
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INTERVIEW OF THE DAY Few stocks going up due to flight to safety, says MD of Sundaram MF   Inflows into equity mutual funds (MFs) have continued to remain strong in recent days. Sunil Subramaniam, MD of Sundaram MF, says fund managers are deploying incremental liquidity into select large caps. Subramaniam spoke to Samie Modak ahead of the launch of the new fund offer (NFO) of Sundaram Services Fund. Read full interview here (Photo courtesy: myrokra.com) Nifty sectoral trend BSE Sensex opening gainers and losers Market at open   At 9:15 AM, the S&P BSE Sensex was trading at 38,740, up 17 points while the broader Nifty50 was ruling at 11,691, up 1 point. Rupee Alert Rupee opens at record low of Rs 70.62 against US Dollar Markets at Pre-open Index Current Pt. Change % Change   S&P BSE SENSEX 38,981.96 +259.03 +0.67   S&P BSE SENSEX 50 12,302.65 +62.06 +0.51   S&P BSE SENSEX Next 50 35,450.00 +102.96 +0.29   S&P BSE 100 12,063.00 +53.86 +0.45   S&P BSE Bharat 22 Index 3,732.17 +13.95 +0.38

Benchmark indices are trading flat as investors remain cautious ahead of August F&O expiry, due later in the day today.

Meanwhile, the sentiment was also affected after rupee hit record low of Rs 70.82 against US dollar, making it the worst performing US currency. 

Back home, investors will look forward to the June-quarter GDP data to be announced on August 31. For the quarter ended March 31 the GDP growth rate stood at 7.7 per cent. 

According to a Reuters poll, India likely grew 7.6 percent in the April-June quarter, propelled in part by an improvement in manufacturing and exports. The poll results suggest domestic demand was strong, driven primarily by manufacturing activity that remained solid despite elevated oil prices and a weakening Indian rupee.

Amid stock specific action, Reliance Infrastructure gained 1 per cent after it said on Wednesday that it has completed the Rs 188 billion deal for sale of its Mumbai energy business to Adani Transmission, which will help it pare debt by two-thirds to Rs 75 billion.

Asian stocks rose on Thursday as Wall Street hit record highs in the hope that the current North American Free Trade Agreement (NAFTA) negotiations will lead to a further easing of global trade tensions.

The leaders of the United States and Canada expressed optimism on Wednesday that NAFTA negotiations would meet a Friday deadline for a deal.

MSCI’s broadest index of Asia-Pacific shares outside Japan nudged up 0.1 per cent. Australian stocks added 0.15 per cent, and Japan's Nikkei rose to a three-month high, last trading up 0.45 per cent. South Korea's KOSPI was little changed.

(With inputs from Reuters)
First Published: Thu, August 30 2018. 08:15 IST