Sensex, Nifty turn choppy in early trade

Equity benchmarks Sensex and Nifty turned choppy on Wednesday, tracking weakness in index heavyweights Reliance Industries, TCS and HDFC Bank amid a mixed trend in global markets.

After surging over 200 points in early trade, the 30-share BSE benchmark turned volatile and was trading 27.41 points or 0.05 per cent lower at 57,184.21 in early deals. The NSE Nifty also slipped 33.45 points or 0.2 per cent to 17,069.10.

From the Sensex pack, Dr Reddy’s, Titan, Sun Pharma, Reliance Industries, TCS and HDFC Bank were the prominent losers.

In contrast, PowerGrid, NTPC, Infosys and Wipro were among the gainers.

Elsewhere in Asian markets, Seoul, Tokyo and Hong Kong were quoting lower.

Stock exchanges in the US surged higher in the overnight trade on Tuesday.

On Monday, the BSE benchmark went lower by 84.88 points or 0.15 per cent to settle at 56,975.99 and the Nifty declined 33.45 points or 0.20 per cent to close at 17,069.10.

Equity markets were closed on Tuesday for Eid-Ul-Fitr.

Meanwhile, international oil benchmark Brent crude jumped 1.08 per cent to USD 106.10 per barrel.

Foreign institutional investors offloaded shares worth Rs 1,853.46 crore on Monday, according to stock exchange data.