Benchmark indices Sensex and Nifty opened on a strong note on Wednesday but eventually gave up all of their early gains due to a negative trend in global markets.
In early trade, the 30-share BSE Sensex rose 204.23 points to 61,965.56. The Nifty 50 rose 57.2 points to 18,323.15.
However, both key benchmark indices pared all the gains, with the BSE benchmark trading 71.95 points lower at 61,689.38, and the Nifty trading 22.85 points worse at 18,243.10.
Early on Wednesday, the rupee strengthened 10 paise to 81.96 against the US dollar, following the American currency’s decline in foreign exchange markets.
IndusInd Bank, Power Grid, Tata Motors, Reliance Industries, UltraTech Cement, Nestle, and ITC were the top gainers on the Sensex.
The major laggards were the State Bank of India, Tata Steel, Axis Bank, and HDFC.
On Tuesday, in Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong were all trading in the red.
On Tuesday, the United States markets closed in the red.
Meanwhile, the global oil benchmark Brent crude fell 0.70 percent to USD 76.90 per barrel.
According to the exchange, Foreign Institutional Investors (FIIs) were net buyers on Tuesday, buying equities worth Rs 1,942.19 crore.
On Tuesday, the BSE benchmark fell 2.92 points to 61,761.33. The Nifty finished at 1.55 points or 0.01 percent at 18,265.95.
