BSE, NSE trade flat; Rupee recoups 8 paise against dollar

The Sensitive Index (Sensex) of the BSE, which had closed at 26,210.68 points on Wednesday, opened higher at 26,429.41. Minutes into trading, it was trading at 26,222.11 points, up by 11.43 points, or 0.04 per cent.

At the National Stock Exchange (NSE), the broader 51-scrip Nifty, which had closed at 8,034.85 points, was quoting at 8,029.05 points, down 5.80 points or 0.07 per cent.

On Wednesday, outflow of foreign funds, along with profit booking ahead of derivatives expiry and broadly negative global indices, pulled the Indian equity markets down.

The key indices lost their earlier gains and closed on a flat note, as heavy selling pressure was noticed in stocks of oil and gas, capital goods and energy.

The Sensex was down only by 2.76 points or 0.01 per cent at Wednesday`s closing. In the day`s trade, the barometer 30-scrip sensitive index had touched a high of 26,415.05 points and a low of 26,191.72 points.

The Nifty, was marginally up by two points or 0.02 per cent.

On Thursday, Asian shares were down following Wall Street suffering a hindrance after weeks of gains, while the dollar was in demand as US government debt offered premiums over euro zone bonds.

Japan`s Nikkei 225 was trading in red, down 0.99 per cent, Hang Seng up by 0.10 per cent while South Korea`s Kospi was also down by 0.04 per cent. China`s Shanghai Composite index was quoting in green, up by 0.03 percent.

On a negative note, Nasdaq closed in red, down by 0.90 per cent and FTSE 100 was up by 0.53 per cent at the closing on Wednesday.

Rupee recoups 8 paise against dollar

After yesterday's weakness, the rupee staged a mild recovery of 8 paise to 68.16 against the dollar at the forex market following fresh selling of the US currency by banks and exporters.

Forex dealers said dollar's weakness against some currencies overseas and a better trend in early trade at the domestic equity market supported the local currency.

The rupee had lost 18 paise to close at a 4-week low of 68.24 in yesterday's trade on month-end dollar demand from importers coupled with sustained foreign capital outflows.