Markets are flat after a good start in very erratic trade

On Wednesday, equity benchmark indices began the trading session on a strong note but later traded flat in extremely volatile trade due to contradictory cues from Asian markets and continued foreign fund outflows.

In early trade, the 30-share BSE Sensex rose 181.6 points to 65,124. The Nifty gained 49 points to 19,455.70.

However, both benchmark indices later saw significant volatility and were trading with minor gains.

Asian Paints, Wipro, Maruti, Tata Consultancy Services, Larsen & Toubro, and Titan were the top gainers on the Sensex.

Among the laggards were ICICI Bank, Axis Bank, Kotak Mahindra Bank, Bajaj Finance, Infosys, and NTPC.

Seoul and Tokyo were trading down in Asian markets, while Shanghai and Hong Kong were trading higher.

On Tuesday, the US markets finished in the green.

Brent crude rose 0.07 percent to USD 81.67 a barrel.

According to data exchange, foreign institutional investors (FIIs) sold securities worth Rs 497.21 crore on Tuesday.

On Tuesday, the BSE benchmark fell 16.29 points, or 0.03 percent, to 64,942.40. The Nifty dropped 5.05 points, or 0.03 percent, to 19,406.70.

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