Stocks were flat in a choppy trade during morning session with the benchmark BSE Sensex advancing by 30 points in absence of cues as financial markets across the world were closed for New Year holiday. Buying was seen in realty, healthcare, consumer durables, industrials, capital goods, utilities, auto and power sectors.
The 30-share BSE index was up 30.73 points, or 0.09 per cent, at 34,087.56 at 1050 hours. The 50-share Nifty was also trading marginally higher by 4 points or 0.04 per cent at 10,534.70. SunPharma rose the most among Sensex stocks gaining 1.85 per cent, followed by M&M 0.93 per cent, ITC 0.87 per cent, BhartiAirtel 0.75 per cent and Tata Motors 0.74 per cent. Maruti Suzuki, which posted 10 per cent rise in December sales, also rose by 0.14 per cent. However, IT services major TCS fell by 1.09 per cent, while ICICI Bank, HDFC, Hindustan Unilever and Reliance Industries dropped up to 1 per cent, restricting Sensex gains. Asian markets remained closed due to public holiday.
US stocks closed lower as selling pressure accelerated towards the close of the session. -- Rupee advances 15 paise against US dollar -- The rupee rose by 15 paise against the US dollar to trade at 63.72 in late morning deals on dollar selling by banks and exporters. The rupee opened marginally higher at 63.85 per dollar against last Friday's closing level at 63.87 per dollar at the inter-bank foreign exchange market here today. Later it rose to a high of 63.71 before trading at 63.72 per dollar at 1145hrs. Global financial markets were closed today due to New Year holiday. Foreign portfolio investors (FPIs) had invested Rs 595.04 crore on net basis last Friday.
Meanwhile, The rupee edged higher by five paise to trade at 63.82 against the US dollar on the first trading day of 2018 on the back of increased selling of the American currency by banks and exporters.