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Markets open flat on continued weakness in global equities

The Sensex is trading at 36,394.06 down by 37.61 points or 0.10 per cent.

Markets open flat on continued weakness in global equities

New Delhi: Markets opened on flat to negative note on Friday on weaker domestic currency amidst continued weakness in global equities.

The Sensex of the BSE which had closed on Thursday at 36,431.67, opened on Friday at 36,449.27, touched a high of 36,450.36 and a low of 36,327.31. On the other hand, the broader 50-scrip Nifty at the National Stock Exchange (NSE) opened at 10,944.25 points after closing at 10,951.70 points.

Meanwhile, the rupee fell by 37 paise to 70.07 against the US dollar in early trade Friday amid strengthening of the US dollar against some currencies overseas and foreign fund outflows.

Top losers include Infosys, Asian Paints, HDFC, TCS, PowerGrid, Bajaj Auto and Hero MotoCorp, shedding up to 2 percent. While the gainers include Airtel, M&M, Tata Motors, Tata Steel, Adani Ports and Vedanta, rising up to 2 percent.

On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 386.44 crore Thursday, and domestic institutional investors (DIIs) were net buyers to the tune of Rs 87.96 crore, provisional data available with BSE showed.

Global stocks were sailing into Christmas on a sea of red, as the threat of a U.S. government shutdown and of further hikes in U.S. borrowing costs inflamed investor unease over the economic outlook, a Reuters report said.

MSCI`s broadest index of Asia-Pacific shares outside Japan shed 0.6 percent. Japan`s Nikkei fell 1.8 percent, and was down more than 6 percent for the week so far, while Australian stocks slipped 1 percent to a two-year trough.

With Agency Inputs