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Sensex, Nifty turn choppy; HCL Tech rallies 4 pc

According to traders, investors were cautious ahead of the outcome of the 11th round of talks aimed at ending the trade war between the world's two largest economies.

twitter-logo PTI        Last Updated: May 10, 2019  | 12:14 IST
Sensex, Nifty turn choppy; HCL Tech rallies 4 pc
On the currency front, the rupee depreciated 7 paise to 70.01 against the US dollar.

According to traders, investors were cautious ahead of the outcome of the 11th round of talks aimed at ending the trade war between the world's two largest economies.

Trump on Thursday accused China of trying to renegotiate a trade deal that has been negotiated after months of efforts and asserted he will not let that happen.

However, he said last night he received a "very beautiful letter" from the Chinese President Xi Jinping, and that it is possible that the US and China will enter into a trade deal.

Meanwhile, the Trump Administration Friday imposed increased tariffs on import of Chinese products over USD 200 billion worth from 10 per cent to 25 per cent.

Sustained foreign fund outflow too weighed on investor sentiment here, traders said.

Foreign institutional investors (FIIs) sold equity worth Rs 655.36 crore on Thursday, while domestic institutional investors (DIIs) purchased shares to the tune of Rs 677.91 crore, provisional data available with stock exchanges showed.

Bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading higher in early trade.

On Wall Street, S&P500 and Nasdaq Composite indices ended lower on Thursday.

On the currency front, the rupee depreciated 7 paise to 70.01 against the US dollar.

Brent crude futures, the global oil benchmark, were trading 0.33 per cent lower at USD 70.62 per barrel.

Also Read: Share Market Live: Sensex up 73 points, Nifty at 11,314; Bharti Airtel, YES Bank, Jet Airways top gainers

Also Read: SBI Q4 results outlook: Analysts predict profits of around Rs 4,000 crore

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