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Markets open flat on tepid global cues, Nifty holds 10,900

Asian stocks edged down on Wednesday on mounting signs of slowing global growth and anxiety over a yet-unresolved Sino-US trade dispute.

Markets open flat on tepid global cues, Nifty holds 10,900

New Delhi: Markets opened flat on tepid global cues while the NSE Nifty managed to hold on to 10,900 level.

In early trade the BSE Sensex jumped 21.69 points or 0.06 percent to 36,466.33 while the NSE Nifty edged higher by 14.25 points or 0.13 percent to 10,937.00.

Sectorwise, the BSE metal, oil & gas, FMCG, PSU, healthcare and banking indices rose up to 1.05 percent.

Major gainers were Yes Bank, Tata Steel, HUL, Vedanta, SBI, Maruti Suzuki, Bajaj Fiannce, ITC, Bharti Airtel, RIL, ICICI Bank, ONGC, NTPC, PowerGrid, Axis Bank and Asian Paint, rising up to 2.03 percent.

However, Infosys, Kotak Bank, TCS, HDFC, Hero MotoCorp, IndusInd Bank and Coal India fell up to 0.84 percent.

Meanwhile, foreign portfolio investors (FPIs) continued their selling activity on domestic bourses here. They sold shares worth a net Rs 78.53 crore, while domestic institutional investors (DIIs) sold shares worth Rs 84.15 crore Tuesday, provisional data showed.

Asian stocks edged down on Wednesday on mounting signs of slowing global growth and anxiety over a yet-unresolved Sino-US trade dispute, a Reuters report said.

Japan`s Nikkei dropped 0.7 percent while MSCI`s broadest index of Asia-Pacific shares outside Japan dipped 0.1 percent. On Wall Street, the S&P 500, the Nasdaq and the Dow all posted their biggest one-day percentage drops since Jan. 3 on Tuesday. The S&P lost 1.42 percent.

With Agency Inputs