Sensex, Nifty turn choppy on tepid global cues

(PTI) Equity benchmarks Sensex and Nifty started on a choppy note on Thursday as global investors turned cautious over US President Donald Trump’s impeachment.

Retreating from its record high, the 30-share BSE index was trading 24.89 points or 0.06 percent lower at 41,533.68 in the opening session.

Similarly, the broader NSE Nifty slipped 7.60 points or 0.06 percent to 12,214.30.

Yes Bank was the top loser in the Sensex pack falling up to 2.46 percent, followed by IndusInd Bank, ICICI Bank, Sun Pharma, HDFC, Tata Steel and Bharti Airtel.

On the other hand, M&M was the top gainer, rising up to 1.26 percent. HCL Tech, Tata Motors, Asian Paints, TCS, and HUL were also trading in the green.

In the previous session, the 30-share gauge settled 206.40 points, or 0.50 percent, up at its all-time closing high of 41,558.57, and the Nifty advanced 56.65 points, or 0.47 percent, to its record closing peak of 12,221.65.

According to traders, global investors turned cautious after US Donald Trump became the third President in US history to be impeached.

The House of Representatives formally charged him with abuse of power and obstructing the Congress, setting up a Senate trial next year that will decide whether he remains in office after three tumultuous years.

Meanwhile, on a net basis, foreign institutional investors bought equities worth Rs 1,836.81 crore, while domestic institutional investors sold shares worth Rs 1,267.57 crore on Wednesday, data available with the stock exchange showed.

Bourses in Hong Kong, Shanghai, Tokyo, and Seoul were trading on a negative note. Benchmarks on Wall Street ended flat on Wednesday.

Brent futures, the global oil benchmark, slipped 0.02 percent to USD 66.16 per barrel.

Meanwhile, the rupee depreciated marginally to 70.98 against the US dollar in the morning session.

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