Markets trade flat in early trade on weak global trends

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| Photo Credit: Paul Noronha

Benchmark indices Sensex and Nifty traded almost flat in early session on October 23 amid weak trends in global markets.

The 30-share BSE Sensex rose by 56.3 points to 65,453.92 in opening trade. The Nifty gained 14.2 points to 19,556.85.

Both the benchmark indices faced volatile trends later and were trading with marginal gains.

Among the Sensex firms, ICICI Bank, Bajaj Finance, Power Grid, Mahindra & Mahindra, UltraTech Cement, Nestle, Bajaj Finserv and Reliance Industries Limited were the major gainers.

Kotak Mahindra Bank, Tata Steel, Larsen & Toubro, Tata Consultancy Services, JSW Steel, Tech Mahindra IndusInd Bank and Titan were among the laggards.

In Asian markets, Seoul, Tokyo and Shanghai were trading lower. The U.S. markets ended in negative territory on Friday.

Global oil benchmark Brent crude declined 0.89% to $91.34 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth ₹456.21 crore on Friday, according to exchange data.

The BSE benchmark fell 231.62 points or 0.35% to settle at 65,397.62 on Friday. The Nifty declined 82.05 points or 0.42% to 19,542.65.