Stock market indices turn volatile, Nifty struggles around 11,300

Stock market indices turn volatile, Nifty struggles around 11,300

Sensex, Nifty

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Indian stock markets (Sensex and Nifty) traded slightly changed in the morning deals on Wednesday with Sensex and Nifty trading flat ahead of macro data while the Indian rupee touched a fresh all-time low at 72.91 vs US dollar.

Volatility has continued on the stock market on Wednesday morning. The Nifty is hovering around 11,300, while the Sensex is marginally higher.

At 10 30 am, Sensex was up 57.50 points or 0.15% at 37470.63, and the Nifty was up 14.30 points or 0.13% at 11301.80. The market breadth is negative as 666 shares advanced, against a decline of 1,334 shares, while 96 shares are unchanged.

The domestic stock marketsare likely to trade cautiously on Wednesday tracking the subdued activity in regional Asian peers and caution ahead of IIP and inflation data scheduled to be released after market trading hours today.

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Asian stocks slipped to 14-month lows on Wednesday, as investor confidence was chilled by the latest round of verbal threats in an intensifying US-China trade conflict, Reuters said in a report.

Asian shares fell on Wednesday as China delayed issuing licenses to American businesses hoping to operate in the country, as the threat of more trade tariffs from Washington loomed.

The approach of Hurricane Florence on the East Coast and upcoming sanctions on Iran's energy industry lifted oil prices. Benchmark U.S crude surged past $70 a barrel, the report said further.

Japan's benchmark Nikkei 225 lost 0.4%to 22,571.76, and the Kospi in South Korea fell 0.2%to 2,279.70, Hong Kong's Hang Seng index was 0.2%lower at 26,372.02 and the Shanghai Composite index fell 0.3%to 2,656.26.