Markets open flat amidst mixed global cues

New Delhi: Stock markets opened flat on Tuesday but minutes into the trading the equity indices were trading higher.

The benchmark Sensex was trading higher at 103.07 points or 28 percent, to 36,426.84 points in early trade. The NSE Nifty also edged up 42.65 points or 0.39 percent to 10,979.50.

Major gainers that supported the recovery were ICICI, Tata Motors, Sun Pharma, Tata Steel, Vedanta Limited, Yes Bank, Reliance, Adani Ports, Bharti Airtel, SBINm, Heromoto Corp and ONGC. Shares of state-run oil marketing companies such as HPCL, BPCL and IOC were back in demand and rose by up to 3.34 per cent, supported by a sharp fall in crude prices.

Shares of FMCG major Hindustan Unilever though fell the most in the Sensex pack despite posting a 19.17 percent increase in standalone net profit at Rs 1,529 crore for the first quarter ended June 30.

The rupee meanwhile strengthened 21 paise to trade at 68.36 against the US dollar in morning session at the interbank forex market. Fresh selling of the American unit by exporters and banks and fall in global crude oil prices boosted the domestic currency.

Yesterday, the rupee had retreated from a near two-week high by ending 4 paise lower at 68.57 against the US currency.

With PTI Inputs