Markets open flat; metal, PSU, oil and gas stocks derail

Foreign institutional investors (FIIs) bought shares worth Rs 277.38 crore Wednesday, provisional data showed.

New Delhi: Markets opened flat on Thursday tracking global cues as metal, PSU, oil and gas stocks dragged.

The benchmark BSE Sensex was up 18.95  points, or 0.05 percent, to quote at 35,160.94 in early trade while the Nifty turned negative by falling 2.80 points or 0.026 percent at 10,573.50.

The rupee appreciated 24 paise to 72.07 against the US dollar at the interbank foreign exchange Thursday on fresh foreign fund inflows and easing crude oil prices. Brent crude, the international benchmark, fell eased by 0.47 percent to USD 65.81 a barrel.

Foreign institutional investors (FIIs) bought shares worth a net of Rs 277.38 crore, while domestic institutional investors (DIIs) sold shares to the tune of Rs 272.34 crore Wednesday, provisional data showed.

Elsewhere in Asia, Shanghai Composite Index was up 0.58 per cent, while Hong Kong's Hang Seng gained 0.11 per cent. Japan's Nikkei, however, was down 0.25 per cent in the late morning session. The US Dow Jones Industrial Average had lost 0.81 per cent Wednesday amid ongoing concerns over trade, politics and economic growth.