Sensex pares gains to trade flat

Mumbai: The benchmark BSE Sensex pared gains to trade almost flat in late morning deals, amid buying in capital goods, industrials, and metal sectors.

The 30-share Sensex opened higher at 31,694.15 and traded between 31,763.70 and 31,642.79 in morning trade.

The Sensex was higher by 25.37 points or 0.08 per cent at 31,688.11 at 1140 hrs.

The 50-share Nifty trading at 9,943.20, higher by 13.30 points or 0.13 per cent.

Major gainers were L&T (4.39 per cent), Tata Steel (1.14 per cent), Kotak Bank (0.77 per cent), Maruti (0.58 per cent) and HDFC Bank (0.53 per cent.) Foreign portfolio investors (FPIs) sold shares worth Rs 564 crore on net basis on Thursday, showed provisional data.

Domestic institutional investors (DIIs) bought shares worth Rs 245.32 crore. Asian stocks were trading on a mixed note as investors braced for damage that Hurricane Irma may inflict on Florida.

China reported August exports were up 5.5 per cent from a year ago in dollar terms, while imports were up 13.3 per cent in dollar terms. 

Rupee pares early gains, still up 16 paise vs USD. The rupee pared some its initial gains to trade at 63.89 per dollar, up by 16 paise, in late morning deals on sustained bouts of dollar selling from banks and exporters amid weak dollar overseas.

The rupee resumed sharply higher at 63.85 per dollar at the interbank foreign exchange (Forex) against yesterday's closing level of Rs 64.05 per dollar.

The domestic unit hovered between 63.83 and 63.91 during morning deals. A weak dollar overseas boosted the rupee sentiment, a dealer said.

 Globally, the US dollar was lower against a basket of six currencies in early Asian trade, and the euro hovered below a 2-1/2-year high vs dollar.

Meanwhile, the benchmark BSE Sensex was marginally higher by 8.69 points or 0.03 per cent at 31,671.43 at 1050 hrs.