Markets: Sensex trades in green, Nifty at 10,628.9; Midcaps outperform

Sensex in early trade on Thursday rebounded by 51 points after IT, realtystocks rose on optimistic buying by investors ahead of announcement of quarterly results.

The 30-share index rose by 51.78 points, or 0.15 per cent, at 34,484.85, in opening trade with IT, realty, teck, power and auto leading the recovery by rising up to 0.80 per cent. 

Benchmark indices continued to be rangebound in morning but the broader markets outperformed, with the Nifty Midcap rising 0.24 percent. Investors focussed on corporate earnings. At 11:29 AM, Sensex wa trading in green at 34,433.43 points, while Nifty was in red 10,629.45 by 0.03 per cent. 

Traders said widening of bets by investors ahead of Q3 numbers from IndusInd Bank and TCS, to be released later in the day amid buying by domestic institutional investors (DIIs) influenced sentiment.

Meanwhile, the rupee slid further by 22 paise to hit a low of 63.82 against the greenback in late morning deals on continued bouts of dollar demand from importers and banks amid flat equities.
The rupee opened lower at 63.65 per dollar from yesterday's closing level of 63.60 at the inter-bank foreign exchange market today.

The Indian unit witnessed volatility and fell further to 63.82 on heavy dollar demand.

The domestic unit was trading at 63.75, down by 15 paise, against the dollar at 1050 hrs.

The US dollar was largely stable against its major rivals in early Asian trade after suffering its biggest one- day drop in nearly eight months following a report that China was ready to slow or halt its purchases of US Treasuries.