Sensex, Nifty turn choppy after opening higher

NEW DELHI: Markets on Thursday started in green amid strong global cues due to falling crude prices and recovery in rupee. The benchmark BSE Sensex surged more than 100 points, while the broader NSE Nifty traded near the 10,600-levels.

Sensex surged 118 points or 0.34 per cent to 35,260 and Nifty gained 22 points or 0.22 per cent to 10,599 in early trade. After opening higher, both the equity indices gave up most of their gains in another set of choppy session witnessed just a day before.

Hero MotorCorp, Wipro, Infosys, Tata Motors and L&T were among the top performing stocks on the BSE index, rising as much as 1.61 per cent. On NSE, sub-indices Nifty IT and Pharma witnessed major gains, up as much as 1.03 per cent.

The rupee appreciated 24 paise to 72.07 against the US dollar at the interbank foreign exchange on Thursday on fresh foreign fund inflows and easing crude oil prices.

Dealers said the strength in the rupee was also supported by increased selling of dollars by exporters and the American currency's weakness against some currencies overseas.

On the other hand, Asian stocks rose, taking heart from a bounce in Chinese shares on news that China has delivered a written response to US trade demands, while oil prices resumed their retreat on fears of oversupply.

Brent crude, the international benchmark fell 0.47 per cent to $65.81 per barrel.