Sensex Today: Sensex, Nifty end flat with positive bias; DHFL rises 10%

Asian shares fell on early Wednesday as U.S.-China trade truce was overtaken by fresh concerns over Washington threat of tariffs on additional European goods.

Oil prices edged higher on Wednesday after a steep fall in the previous session, supported by extended output cuts by OPEC and its allies despite concerns that a slowing global economy could crimp demand.

Nirmala Sitharaman will present the first Budget of second term of the Modi government on July 5.

Rahul Agarwal, Director at Wealth Discovery/EZ Wealth said, "In addition to the Union Budget that is scheduled to be unveiled on the 5th of July there are several other factors that will influence the Indian equity markets. Geo-political developments regarding US-China trade talks, the tensions in the Middle east would continue to have a major bearing on the global equity markets including India. The markets are expected to be extremely volatile in the run up to the big day. However, any major movement on either side is highly unlikely. "

Read more: How Sensex, Nifty are likely to move in run-up to Budget 2019

US has raised another concern of trade war between US-Europe. US has proposed $4bn tariff on European region. US stocks managed modest gains with S&P 500 closing at a record high. US Future declined 0.3%Asian markets opened on a negative note with Hong Kong, Nikkei and China Index slipping half a percent. Although SGX Nifty was up 14 pts or 0.12% in the early trade on Singapore Exchange.

Sensex Today LIVE : Benchmark indices Sensex and Nifty opened marginally positive on Wednesday, buoyed over hopes from the Union Budget outcome, scheduled for July 5, 2019, despite weak Asian peers. Sensex opened at 39,907.57 against yesterday's close of Rs 39,816.48, while Nifty50 started today's trade at 11,932.15 against yesterday's close of 11,913.

On a net basis, foreign institutional investors sold equities worth Rs 512 crore, while domestic institutional investors purchased shares to the tune of Rs 141.09 crore, provisional data available with stock exchanges showed Tuesday.

Top gainers in the Sensex pack in early trade included Yes Bank, IndusInd Bank, Asian Paints, M&M, Axis Bank, NTPC and PowerGrid, while Vedanta, ONGC, HDFC, Tata Steel, ITC, TCS and HUL fell th emost in the early trading session.

India VIX has cooled down and moved to 14, at a loss of 1% over yesterday, depicting low volatility in the market.

Sectorally, Auto, IT, Metal and Pharma stocks are trading lower in today's trade, while highest gains were seen in PSU bank stocks, pressuring the index to a 0.75% growth, followed by 0.60% gain each in Infra, Media and Realty stocks.

On a weekly note, relative to commentary on the pre budget market expectations,  Jimeet Modi, Founder & CEO, SAMCO Securities & StockNote, stated, "The lackluster vibe before the Budget can be the calm before the storm and markets are expected to remain muted and sideways but there is likelihood of downward pressure. The auto sector is at the tipping point. Depending on how the Government provides support, these stocks will either revive or fall off the cliff. Other sectors which are likely to benefit from the Budget would clearly be low cost housing, agriculture and infrastructure as the Government knows very well the multiplier effect to attain the growth and employment targets. Investors should still follow a wait and watch approach. "

Shares of Tata Communications fell over 4% intraday as the firm disclosed to the exchanges about resignation of Managing Director & Group CEO, Vinod Kumar.The share price of Tata Communications opened at Rs 475 against the previous close of Rs 474.75 and further dropped 4.16% to day's low of Rs 455 on the BSE platform. The stock is trading lower than 5, 20, 50, 100 and 200-day moving average.

Sensex Today LIVE : Benchmark indices Sensex and Nifty are trading marginally positive on Wednesday, buoyed over hopes from the Union Budget outcome, scheduled for July 5, 2019, amid weak Asian peers. Sensex is trading at 39,871 with a gain of 50 points against yesterday's close of 39,816.48, while Nifty50 in today's trade stands at 11,925, up by 15 points against last close of 11,913.