Amidst the global meltdown due to worries over trade war, Sensex and Nifty opened on a colourless tone.
Amidst the global meltdown due to worries over trade war, Sensex and Nifty opened on a colourless tone. The Sensex is down 17.92 points or 0.05% at 33237.44, while the Nifty is down 4.60 points or 0.05% at 10207.20. The market breadth favours the negative as 268 shares advanced, against a decline of 295 shares, while 80 shares were unchanged.
However, stocks of PSU banks rallied against all sectors all sectors after the RBI on Monday announced that lenders could spread bond trading losses over four quarters.
The Indian rupee strengthened by 9 paise to 65.09 against the US dollar in opening trade today on fresh selling of the greenback by exporters.
The dollar weakened against other global currencies as China imposed extra tariffs on US products, escalating a dispute between two of the world's biggest economies, and supporting the domestic unit here, a currency dealer said.
On Wednesday, the rupee had ended 21 paise lower at 65.18 against the US currency on fiscal deficit concerns.
Forex market remained shut yesterday due to annual accounts closing. The market also remained shut on Thursday and Friday for Mahavir Jayanti and Good Friday, respectively.
Meanwhile, Asian shares slipped on Tuesday amid escalating trade tensions and worries over the fading outlook for global tech giants, but investors held their nerves to focus instead on prospects for stronger world growth.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.4 per cent on Tuesday, compared with losses of more than 2 percent on each of the three Wall Street indices overnight.
The US dollar steadied against the safe haven yen after declining for three straight days and gold, which is often seen as a store of value during times of financial or political uncertainty, inched lower.
US Treasuries saw a bit of selling too with yields on 10-year notes off two-month lows.
Meanwhile, E-Mini futures for the S&P 500 climbed 0.4 per cent and Dow futures were also up 0.2 per cent.
"Markets are being supported by global growth, most indicators that have come out recently are pretty solid," said Shane Oliver, Sydney-based chief investment strategist at AMP Capital.
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 "Sensex, Nifty, Markets, Donald Trump, Global trade war, Steel and aluminium, RBI, PSU banks, share markets, Indian rupee, dollar")
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