Sensex flat with positive bias; Nifty trades at 10146

Nifty hits record high in morning trade, Sensex surges 191 points

On the global front, Asian markets ended mostly lower while European markets were trading higher after Federal Reserve monetary policy meeting.

Driven by stronger rupee and revival of buying interest of foreign investors amid abundant liquidity, the NSE Nifty closed at 10,153.10 - a new peak - up 67.70 points, or 0.67 per cent, after shuttling between 10,171.70 and 10,131.30.

Mumbai: The BSE Sensex dropped by over 111points to trade 32,289.17 in afternoon session following sustained bouts of profit-booking in realty, metals, utilities, capital goods, banks, FMCG, and power.

Small-cap and mid-cap stocks moved in tandem with the benchmark indices, weakening by up to 0.51 per cent.

At 10:53am, the Sensex was down 155.26 points or 0.48% at 32,245.25, and the Nifty fell 56.95 points or 0.56% at 10,084.20, from previous close. Japanese markets were closed for a holiday.

The Dow Jones Industrial Average rose 0.19% to end at 22,412.59 points, its seventh straight record close.

The BSE market breadth was bearish with 1,311 declines and 1,293 advances.

In terms of investments, provisional data with the exchanges showed that foreign institutional investors (FIIs) sold scrip worth Rs 1,204.95 crore while DIIs purchased stocks worth Rs 1,416.55 crore.

During the day, the Indian rupee strengthened by 6-7 paise to 64.26-27 against the U.S. dollar from its previous close at 64.33.

Indian shares were little changed on Wednesday, while market heavyweight Reliance Industries Ltd hit a record high as a cut in mobile interconnect fee is seen benefiting the company's telecom unit. During the day, it touched a high of 32,508.06.

"Over 120 stocks hit fresh 52-week highs, helping them multiply investors' wealth".

Banking stocks were among the top laggards.

In contrast, Dr Reddy's was the leader by rising 3.33 per cent, to Rs 2,313.60, followed by Tata Steel 1.64 per cent, to Rs 687.65 on unabated buying activity.

Major Sensex losers were: Tata Motors (DVR), down 2.14 per cent at Rs 233.25; ICICI Bank, down 1.99 per cent at Rs 285; Axis Bank, down 1.37 per cent at Rs 512.25; Coal India, down 1.09 per cent at Rs 253.60; and ONGC, down 0.93 per cent at Rs 166.

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