Mumbai, India (BBN)-The Nifty and the Sensex opened and traded marginally in the red following weak global cues.
The Nifty opened 19 points down at 8,330, while the Sensex opened 44 points down at 26,991, reports The Hindu Business Line.
A report by SMC Global said: “Most of the Asian stocks declined today as traders reacted for the first time to Donald Trump’s inauguration.
Demand for safe haven assets rose while the US dollar slumped after Bank of Japan Governor Haruhiko Kuroda said that the greenback could strengthen in the Trump presidency.
US stocks closed modestly higher Friday, recouping much of the market’s loss from a day earlier.
US housing starts jumped by 11.3 per cent to an annual rate of 1.226 million in December after tumbling by 16.5 per cent to a revised November rate of 1.102 million.
Economists had expected housing starts to rise to an annual rate of 1.200 million from the 1.090 million originally reported for the previous month.”
All the broader and sectoral indices were trading flat. Volatility was up 2.73 per cent with the India Vix quoting at 16.2225.