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Markets retreat from high opening spree: Sensex down by 13.62 points, Nifty at 11,738.15

Indian equity benchmarks retreated from their high opening spree and opened lower on Wednesday morning. 

Markets retreat from high opening spree: Sensex down by 13.62 points, Nifty at 11,738.15

Indian equity benchmarks retreated from their high opening spree and opened lower on Wednesday morning. The S&P BSE index opened at 38,883.01, lower by 13.62 points against Tuesday's close of 38,896.03. The 50-share NSE index was also down 0.35 point at 11,738.15 against yesterday's 11,738.50.

Meanwhile, the rupee weakened by 22 paise to 70.32 against the US dollar, hurt by fresh demand for the American currency from importers. Traders said besides fresh demand of the US currency from importers and dollar's strength against some currencies overseas weighed on the domestic unit. 

Sentiment turned cautious ahead of August series F&O expiry scheduled tomorrow amid mixed cues from other Asian bourses, traders said.

Prominent gainers were Vedanta, Sun Pharma, Adani Ports, Tata Motors, HDFC, SBI, ONGC, RIL, Bharti Airtel, M&M, Axis Bank, Maruti Suzuki and NTPC, rising up to 2.06 per cent.

Top losers include Coal India, Yes Bank, Hero MotoCorp, Infosys, HUL and ICICI Bank falling up to 1.97 per cent.

With agency inputs