Sensex, Nifty turn choppy; metal stocks fall

The benchmark BSE Sensex turned choppy in early trade today amid weak global cues and a widened current account deficit, which rose to 2 % of the GDP at $ 13.5 billion in the December quarter.

The 30-share index rebounded by 99.79 points in opening deals only to turn choppy thereafter. The gauge was trading 32.96 points, or 0.10 %, lower at 33,143.04. It had lost 741.94 points in the previous four sessions.

Coal India, Asian Paints, Adani Ports, Hero MotoCorp, Tata Steel, Bajaj Auto and Wipro fell up to 3 %.

The NSE Nifty slipped 18.95 points, or 0.19 %, to trade at 10,176.20.

Metal, realty and IT stocks fell up 1.25 %.

Brokers said weak global cues ahead of the US Federal Reserve policy decision later in the week, influenced the trading sentiments here.

A sharply widened current account deficit (CAD) too weighed on investors’ mood. The CAD rose to 2 % of the GDP at USD 13.5 billion in the December quarter, up from $ 8 billion or 1.4 % in the year-ago period, on the back of higher trade deficit, data released by RBI on Friday showed.

Meanwhile, on a net basis, foreign institutional investors sold equities worth Rs 150.46 crore on Friday, while domestic institutional investors (DIIs) sold shares worth ₹770.53 crore, as per the provisional data.

In Asia, Hong Kong’s Hang Seng rose 0.35 %, while Shanghai Composite index up 0.13 % in early trade today. Japan’s Nikkei, however, was down 0.89 %.

Bombay Stock Exchange - BSE

National Stock Exchange of India Ltd (NSE)