Share Market Update: Sensex, Nifty Turn Cautious Amid Weak Global Cues As G-20 Meet Begins

Domestic stock markets started the Friday's session on a cautious note amid weak global ques from foreign equities on the sidelines of the ongoing G-20 Summit in Japan's Osaka.

Domestic investors are also tracking the summit for cues on India-US trade concerns. (File Photo/ Getty)

Share Market Update: Domestic stock markets started the Friday's session on a cautious note amid weak global ques from foreign equities on the sidelines of the ongoing G-20 Summit in Japan's Osaka. The 30-share index was trading 39.58 points, or 0.10 per cent, lower at 39,546.83 at 0940 hours. Similarly, the broader NSE Nifty was quoting a mere 2.85 points, or 0.02 per cent, down at 11,838.70. Both Sensex and Nifty turned flat in late morning deals on Friday, after a positive start amid gains in Asian peers. In the previous session on Thursday, the BSE gauge settled 5.67 points, or 0.01 per cent, lower at 39,586.41 and Nifty slipped 6 points, or 0.05 per cent, to end at 11,841.55. Top losers in the Sensex pack for today were Bharti Airtel, Yes Bank, IndusInd Bank, ICICI Bank, Tata Motors, Bajaj Auto, M&M, RIL, Axis Bank and HDFC Bank, shedding up to 1.09 per cent. While, TechM, Sun Pharma, L&T, Maruti, PowerGrid, NTPC, Infosys and ITC rose up to 1.45 per cent. According to experts, global investors are awaiting progress in US-China trade talks at the G-20 Summit scheduled to be held in Osaka, Japan, on June 28-29. Domestic investors are also tracking the summit for cues on India-US trade concerns, traders told news agency PTI. Even the banking stocks were in focus in today's trading session after the Reserve Bank of India (RBI) said the country's financial system 'remains stable' despite recent setbacks. The Nifty Bank - a sectoral index on the National Stock Exchange (NSE) which consists of banking stocks - fell as much as 0.50 per cent. Meanwhile, on a net basis, foreign institutional investors sold equities worth Rs 71 lakh, while domestic institutional investors bought shares to the tune of Rs 196.57 crore, provisional data available with stock exchanges showed on Thursday. On the currency front, the Indian rupee appreciated 11 paise to 68.96 against the US dollar. The global oil benchmark Brent crude futures fell 0.38 per cent to 65.42 per barrel. Earlier in the day, Prime Minister Narendra Modi held a 'productive' trilateral meeting with US President Donald Trump and Japanese premier Shinzo Abe and extensively discussed issues of the Indo-Pacific region, connectivity and infrastructure development ahead of the formal opening of the G-20 Summit.