Indian Market Failed To Capitalize On the Bullish Sentiment in Global Markets
On Thursday, Indian equity opened in the green. The Indian equity benchmarks Sensex and Nifty turned red soon amid caution on the last day of August series of futures and options contracts.
Also, it was noted that the Rupee’s unabated fall too weighed on the risk appetite of investors. On Thursday, it continued its slide, the rupee on Thursday opened at a low of 70.63 only to plunge further to its lowest ever of 70.82 against the greenback.
Today, Indian market failed to capitalise on the bullish sentiment in global markets. Asian stocks jumped on Thursday after US stocks hit record highs, riding the wave of optimism that the ongoing North American Free Trade Agreement (Nafta) negotiations will translate into easing trade tusssle.
On Wednesday, the US shares extended their rally, with the S&P 500 and the Nasdaq hitting record highs for a fourth straight session as technology stocks pushed indexes higher and promising Nafta negotiations boosted investor confidence, Reuters reported.
During the morning session at 9:25 am, the Sensex was 31 points, or 0.08 per cent, down at 38,691.66, while the Nifty50 was 13 points, or 0.11 per cent, down at 11,678.75.
Also, it was reported that the bank and auto stocks emerged as top drags on Sensex.