Equity indices cede major gains to trade marginally up

Volatility prevailed in the Indian equity market on Thursday as the key indices pared major gains made earlier in the day to trade marginally higher during the afternoon session.

The indices ceded major gains owing to a record low rupee and weak global markets, analysts said.

Globally, investor sentiments were subdued by high crude oil prices. In the domestic front, the Indian rupee depreciated further to breach the 72 per dollar mark for the first time, eroding domestic market sentiments.

At 1.45 p.m., the wider Nifty50 on the National Stock Exchange traded at 11,484.15 points, higher by just 7.20 points or 0.06 per cent from its previous close.

The benchmark S&P BSE Sensex, which had opened at 38,161.85 points, traded at 38,105.52 points, higher by 87.21 points or 0.23 per cent from the previous close of 38,018.31 points.

It has so far touched an intra-day high of 38,193.18 points and a low of 37,912.50.

--IANS

rrb/mr