Sensex, Nifty start on cautious note amid tepid global cues

Mumbai, Sep. 3 (PTI): Domestic equity benchmarks Sensex and Nifty turned cautious in early trade on Thursday amid lack of directional cues from global markets.

After opening 150.33 points higher, the BSE Sensex pared most gains to trade 12.69 points or 0.03 per cent higher at 39,098.72; while the NSE Nifty was up 13.80 points or 0.12 per cent at 11,548.80.

M&M was the top gainer in the Sensex pack, rising around 2 per cent, followed by Maruti, TCS, L&T, Titan, Bajaj Auto and Sun Pharma.

On the other hand, Bajaj Finance, ICICI Bank, IndusInd Bank and PowerGrid were among the laggards.

In the previous session, Sensex settled 185.23 points or 0.48 per cent higher at 39,086.03, while Nifty climbed 64.75 points or 0.56 per cent to close at 11,535.

Exchange data showed that foreign institutional investors bought equities worth INR 990.57 crore on a net basis on Wednesday.

According to traders, domestic equities turned choppy amid lack of directional cues from global markets.

Concerns of India-China border tensions too weighed on investor sentiment, they said.

Bourses in Shanghai and Hong Kong were in the red in mid-day deals, while Tokyo and Seoul was trading with gains.

Stock exchanges on Wall Street ended significantly higher in overnight session.

Global oil benchmark Brent crude was trading 0.09 per cent higher at USD 44.47 per barrel.