Sensex Opens Flat; Asian Markets Give-up Gains

Business

oi-Sunil Fernandes

By Sunil Fernandes

Published: Friday, August 19, 2016, 9:32 [IST]

Benchmark indices opened the day higher, even as global cues, particularly from Asia turned weak, despite higher closings across the US.

Asian markets which opened the day strong gave-up gains, as the Japanese Nikkei slipped into the red after the yen strengthened against the dollar, which was not good news for exporters.

The Sensex was trading with gains of 29 points, while the Nifty was up 10 points in trade. Leading the set of gainers in trade were stocks like Hindalco, Wipro and ONGC.

Shares in State Bank of India subsidiaries were trading mixed following the merger with State Bank of India. State Bank of Travancore was up a huge 6 per cent, while State Bank of Mysore was down 10 per cent.

State Bank of Bikaner and Jaipur on the other hand was up 2 per cent in trade. State Bank of India itself was up 2.55 per cent at Rs 255 per share.

Shares in Fortis Healthcare rose 2 per cent after reports of a demerger of SRL Diagnostics into a separate entity.

Midcap stocks were trading higher broadly in line with the benchmark indices and were marginally up. Sun TV which rallied following a good set of numbers gave up gains and was trading marginally lower.

Meanwhile, the rupee opened at 66.95 to the US dollar.

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