BSE Sensex choppy despite strong Asian cues

The 30-share BSE Sensex was trading in the green on Thursday morning tracking strong trading cues from the overseas Asian markets. However, the trade soon reversed and Sensex fell below the red line.

Sensex was at 28,371.04, up 31.73 points or 0.11% from previous close. At 0924 hours it was trading at 28,322.15, down 17.16 or 0.06% from previous close. 

Asian stocks were trading firm on Thursday tracking strength on the Wall Street after US Federal Reserve Chair Janet Yellen spoke in support of an interest rate hike next month, while the dollar hovered near three-week highs. 

The rise in US stocks nudged MSCI's broadest index of Asia-Pacific shares outside Japan to a 19-month high. The index was up 0.3 percent early on Wednesday.

Japan's Nikkei added 1% and Australian stocks rose 0.9%.

A huge spike in the wholesale inflation numbers released on Wednesday was likely weighing on investment sentiment in the domestic markets. Wholesale Price Index-led inflation was recorded at a 30-month high of 5.25% in January compared to 3.39% recorded in January on the back of rising input costs led by fuel charges. 

On the BSE, gainers included Unitech up 7.35%, Adani Enterprises up 2.42%, Voltas up 1.59%. The top losers were Tata Motors down 8.05%, P C Jeweller down 6.13%, DLF down 3.59%.