Markets Turn Positive, Sensex Zooms 158 Points to 33,386, Nifty at 10,291

India.com Business Desk
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Markets Open at Fresh Record High; Sensex, Nifty Marginally up

Equity benchmarks hit fresh record high on Tuesday even as markets were marginally high.

Mumbai, December 13: Key Indian equity domestic indices- BSE Sensex and NSE Nifty opened on a negative note during early morning trade on Wednesday. Sensex slumped by over 59 points or 0.18% to 33,168.47 while the wider Nifty was down by over 21 points or 0.21% to 10,218.25. During the pre-opening session, Sensex was up by over 100 points while the wider Nifty was at 10,300. The Indian rupee opened lower by 13 paise at 64.53 per dollar on Wednesday against its previous close of 64.40 on Tuesday.

As per reports, the retail inflation in November breached the Reserve Bank of India’s medium-term target of 4 per cent. The Federal Reserve, which is scheduled to issue an interest rate policy update on Wednesday, kicked off its meeting on Tuesday evening.

At 12 Noon: Markets turned positive during afternoon trade. Sensex zoomed 158 points or 0.48% to 33,386.65 while the wider Nifty was up by over 51 points or 0.50%  to 10,291.50. Market mood took a hit in the morning trade after government data, released after trading hour on Tuesday showed that industrial production growth hit a 3-month low of 2.2 per cent in October and retail inflation jumped to a 15-month high of 4.88 per cent in November.

At 10.30 AM: Markets continued to trade in red after disappointing economic data forced investors to tighten their exposure. Sensex was down by over 52 points or 0.16% to 33,175.16 while the wider Nifty was down by over 11 points or 0.11% to 10,228.45.

On Tuesday, markets closed in red. Sensex was down by over 227 points or 0.68% to 33,227.99 while the wider Nifty was down by over 82 points or 0.80% to 10,240.15. As per reports, realty, power and banking were in the grip of selling. Losses in oil marketers such as HPCL, BPCL and IOC stocks too weighed.