After closing on record high, Sensex opens flat over negative global cues

Key indices on Tuesday opened on a dull note amidst negative global cues. Asian markes witnessed a sluggish trend after Wall Street broke got back from a record high spree.

The 30-share BSE Sensex was down 33.60 points at 33,232.56 and the 50-share NSE Nifty fell 11.50 points to 10,352.20.

In early trade, SBI, IOC and HDFC were among the top gainers. While ICICI Bank, GAIL, Coal India, Bharti Infratel, BPCL, Sun Pharma, Indiabulls Housing Finance and L&T traded in red.

Indian stock markets conquered a fresh peak for the fourth session on Monday on positive global cues, state-owned lenders extending rally and earnings optimism playing out.

The stocks of the public sector banks have been on an upsurge, thanks to finance minister Arun Jaitley’s announcement last last week that government will infuse a whopping Rs 2.11-lakh crore into public sector banks. The recapitalisation plan and quarterly earnings by more blue-chip companies, provided impetus to the market.

Meanwhile, the rupee made a cautious rise of 7 paise to 64.78 against the US dollar today as the US Fed's two-day policy meet gets under way.

Exporters and banks continued to give the American currency a wide berth.

However, the dollar's overseas strength and a lower opening in the domestic stock market cast a shadow on the rupee's gains, traders said.

Yesterday, the rupee had bounced back by a healthy 20 paise to end at 64.85 against the US currency on fresh bouts of dollar selling by exporters and banks amid buoyant local equities.

Bombay Stock Exchange - BSE

National Stock Exchange of India Ltd (NSE)