Mumbai, India (BBN) – The Nifty and the Sensex see-sawed between the red and the green trading flat in early trade after global markets turned circumspect following the defeat of a referendum in Italy to reform the country’s constitution resulting in the Italian Prime Minister’s resignation.
The Nifty opened two points up at 8,089, while the Sensex opened 22 points up at 26,253, reports The Hindu Business Line.
At 9.55 am (local time), the 30-share BSE index Sensex was down 0.29 points or 0.00 per cent at 26,230.37 and the 50-share NSE index Nifty was up 5.55 points or 0.07 per cent at 8,092.35.
The euro meanwhile had already hit 20-month lows against the dollar.
A report by IFA Global said: “Asian stock markets are trading on a negative note, with Hang Seng index trading marginally lower by 40 points and Nikkei index is trading lower by 117 points following weak global cues and as investors assessed the implications of the resignation of Italian Prime Minister Matteo Renzi after he suffered a humiliating defeat in a referendum over constitutional reforms.US stock markets closed on a mixed note.”
The Dow Jones Industrial Average closed lower by 21 points and Nasdaq index closed higher by 4 points. US equities closed on a mixed note despite better-than-expected employment number from the US.
European stock markets closed on a negative note, with FTSE closed lower by 22 points and CAC lower by 31 points. European markets ended the day lower, on Friday, ahead of the Italy referendum that scheduled on Sunday.
As per the latest reports, Italian Prime Minister Matteo Renzi has resigned after suffering a heavy defeat in a referendum over his plan to reform the constitution.
All the broader and sectoral indices were trading flat.Volatility was a tad down with the India Vix ruling at 17.7825.
BBN/MS/ANS