Market Live: Sensex, Nifty open flat despite weak global cues; banks rally
The market has begun the day on a mildly lower note, with the Nifty holding on to the 10,200-mark in the opening minutes. The Sensex was trading almost flat.
The Sensex is down 17.92 points or 0.05% at 33237.44, while the Nifty is down 4.60 points or 0.05% at 10207.20. The market breadth favours the negative as 268 shares advanced, against a decline of 295 shares, while 80 shares were unchanged.
PSU banks are outperforming all sectors after the RBI on Monday announced that lenders could spread bond trading losses over four quarters. The Nifty PSU bank index was up 2 percent.
There is some weakness seen in Nifty metal and pharma along with IT indices. Meanwhile, the midcap index is trading mildly lower.
The Indian rupee gained in the early trade on Tuesday. It has opened higher by 9 paise at 65.08 per dollar versus 65.17 Wednesday.