Equities have begun the last trading session for the week on a sombre note, with the Nifty hovering around 11,550. The Sensex is trading flat. All sectoral indices are trading in the red, with maximum cuts visible in banks, FMCG, and metals, among others. Among broader markets, midcaps, too have taken a hit, down about a quarter of a percent.
The Sensex is down 28.95 points or 0.08% at 38307.81, and the Nifty down 20.90 points or 0.18% at 11561.90. The market breadth is positive as 346 shares advanced, against a decline of 187 shares, while 48 shares were unchanged.
Axis Bank, IndusInd Bank, and HCL Tech are the top gainers, while ICICI Bank, Vedanta, Hindalco and Bharti Infratel have lost the most.
The Indian rupee opened lower by 8 paise at 70.19 per dollar on Thursday versus previous close 70.11.
The dollar-rupee August contract on the NSE was at 70.14 in the previous session. August contract open interest increased 3.99% in the previous session, said ICICIdirect.
We expect the USD-INR to find supports at lower levels. Utilise downsides in the pair to initiate long positions, it added.>