Indian equity indices, the BSE Sensex and the NSE Nifty 50, erased opening gains and traded mixed on Wednesday. The BSE Sensex traded at 37,456, higher by 43 points or 0.11 percent, while the NSE Nifty 50 traded up by 9 points or 0.08 percent at 11,297.

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Nifty MidCap traded weak, slipping by 0.64 percent while the BSE MidCap was down by 0.52 percent.

(Market update as of 10.21 am)

Sensex, Nifty trade higher despite rupee hitting fresh record low of 72.91

Indian benchmark equity indices, the BSE Sensex and the NSE Nifty 50, started higher on Wednesday amid mixed cues shrugging off fears associated with the Indian rupee weakening to record low of 72.91 against the US dollar.

At 9.20 am, the Sensex traded 108 points higher at 37,521, while the Nifty was at 11,306, higher by nearly 19 points.

Midcaps traded flat in the opening tick but soon turned negative. Broader market, however, underperformed with Nifty Bank down by nearly half a percent.

Among stocks, Coal India was again leading the gainers followed by M&M, ONGC, PowerGrid, Vedanta, Wipro, Hero MotoCorp, Adani Ports, Infosys, Reliance Industries, HUL, ITC.

The laggards included Bharti Airtel, Sun Pharma, IndusInd Bank, Tata Motors, Asian Paints, ICICI Bank, Yes Bank, HDFC Bank.

State-owned oil marketing companies were among the top index losers with their shares slipping between 1-2 percent as Brent crude prices hovered above $79/bbl.

The Indian rupee opened at yet another record low of 72.82 against the dollar after Tuesday's close of 72.69. It slipped further lower to 72.91/$ level, but retreated afterwards to 72.82 levels.

Asian shares traded lower with Japan's Nikkei losing 0.53 percent and Hong Kong's Hang Seng shedding 0.45 percent.

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First Published:Sept 12, 2018 9:59 AM IST