Equity benchmark indices opened lower tracking subdued global cues on Wednesday. The rupee recovered from over 9-month low and opened higher at 72.20 against the US dollar helped by a weaker greenback.
Currently, the Sensex is trading 105 points lower at 36,458, while the Nifty is down 27 points at 10,771. Reliance Industries, IndusInd Bank and Sun Pharma weighed on the Sensex the most.
GAIL, Vedanta, and Zee are among the top gainers, while Sun Pharma, Indiabulls Housing and Yes Bank fell in today’s trade.
Shares of Sun Pharma dropped 4% after a media report said SEBI has ordered a forensic audit against the company. The audit will be done to look into allegations of financial irregularities and lapses in corporate governance standards, media reports added.
Asian stocks dipped early Wednesday after poor US economic data stoked global recession fears and further soured investor sentiment already hurt by heightened trade war concerns.
The broader market is also underperforming, with the Nifty SmallCap 100 index down 0.51%.
India Vix is currently up 0.94% at 18.22.
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