GIFT Nifty traded flat at 19,434.5, down marginally 0.08% during Wednesday’s early trading session, indicating a flat opening for domestic indices NSE Nifty 50 and BSE Sensex. On Tuesday, the benchmark domestic indices settled in negative territory. The NSE Nifty 50 fell 0.56% to settle at 19,528.75, while the BSE Sensex tumbled 316.31 points to 65,512.10.

“Consolidation continued given the rising US bond yields and dollar index, prompting FIIs to pull funds. While the moderation in oil prices may provide respite on the downside. Infrastructure activity indicates an acceleration led by the rise in core sector output. The auto stocks declined due to mixed bag monthly data, while a near-normal monsoon will aid positive sentiment for consumption in the near term,” said Vinod Nair, Head of Research at Geojit Financial Services.

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