Sensex, Nifty open flat on mixed Asian cues after GST bonanza; Reliance hits fresh 52-week high

Indian equities responded to cautious Asian bourses that had a tepid opening after the launch of a ballistic missile by North Korea.

Mumbai, July 5: Indian equity benchmarks on Wednesday, opened moderately higher, despite mixed cues from the Asian stock markets. Bombay Stock Exchange’s (BSE) Sensitive Index (sensex) was trading at 31,272.72 points, up by 25.37 points, while the National Stock Exchange’s (NSE) Nifty 50 held on to the 9600 mark, after rising 5.95 points. During opening time on Wednesday, Nifty was trading at 9,619.25.

After opening at a slightly higher mark, the Sensex hit a high of 31,284.64 points and a low of 31,193.08 points. On Tuesday, it has closed at 31,209.79 points, while the Nifty had closed at  9,613.30 points.  Among the top performers during early trading session on Wednesday were Reliance Industries, Bharat Petroleum Corporation Limited, Mahindra & Mahindra, Adani Ports and Tata Motors.

Reliance hit a fresh 52-week high on Wednesday and was trading at 1438.25 (9.55 am), up by 1.08 per cent or 15.55 points. Among the top losers today were HDFC, Infosys, Cipla, ITC and Bharti Airtel. Asian Bourses remained cautious on the back of the launch of a ballistic missile by North Korea on Tuesday, with the United States of America confirming the claims of the successful launch. This triggered a warning statement from the Trump administration, saying that they were ready to use “the full range of capabilities at our disposal against the growing threat”, reported the New York Times. As a result, stock markets in Japan and South Korea also opened flat.