Markets turn red soon after opening in volatile trade

New Delhi: Markets opened on a positive note however soon it entered the negative zone in a volatile trade on Wednesday.

The Sensex of the BSE opened at 39,907.57 on the other hand, the broader NSE Nifty opened at 11,932.15. The BSE Sensex was trading 25.04 points or 0.063 percent down at 39,791.44 in at 10.23 am while the NSE Nifty was trading higher by 0.20 points or 0.0017 percent at  11,910.50.

In the previous session on Tuesday, the BSE Sensex settled 129.98 points or 0.33 percent higher at 39,816.48 and the Nifty rose 44.70 points or 0.38 percent to end at 11,910.30.

Top gainers in the Sensex pack were Indus Ind Bank, Yes Bank, Asian Paint, LT and Power grid, rising upto 1.55 percent. While top losers were Vedanta, HDFC, TCS, ONGC, HCL and Tata motors, dropping upto 1.89 percent.

On a net basis, foreign institutional investors (FIIs) sold equities to the tune of Rs 512 crore while domestic institutional investors bought shares to the worth Rs 141.09 crore, provisional data showed.

Among Asian peers, MSCI`s broadest index of Asia-Pacific shares outside Japan was 0.3% lower, while Japan`s Nikkei slipped 0.6% in early trade. U.S. stocks managed modest gains on Tuesday after holding near the unchanged mark for much of the session, with the S&P 500 gaining 0.29% to a record close of 2,972.98, underpinned by dividend-oriented utilities and real estate stocks, a Reuters report said.

With Reuters Inputs