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Sensex Remains Flat as Rupee Loses, IT Stocks Gain

bseSensex of Indian equities markets on Thursday was trading flat at 16.96 points or merely 0.06 percent up as Indian Rupee weakend to 61.54 per dollar, prompting gain IT secotr shares.

Good buying was observed in IT, consumer durables and technology, media and entertainment (TECK) sectors; while selling pressure was seen in auto sector.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 27,098.94 points, was trading at 27,115.13 points (at 09.31 a.m.) in the early session, up 16.96 points or 0.06 percent from the previous day’s close at 27,098.17 points.

The Sensex touched a high of 27,146.44 points and a low of 27,088.65 points in the trade so far, as the rupee weakened to 61.54 per dollar, losing 19 paise, a two-week low on speculation that fund flows to emerging markets will slow as the Federal Reserve is moving  closer to raising interest rates after ending its asset-purchase program.

The S&P IT index gained 142.15 points, consumer durables index moved up by 83.96 points and TECK index went up by 56.56 points. However, auto index dropped by 53.51 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading 7.25 points or 0.09 percent up at 8,097.70 points.

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