Markets turn flat after firm opening

Mumbai, May 7 (PTI) Equity benchmark indices began the trade on an optimistic note on Tuesday but later encountered volatile trends and were trading flat.

The 30-share BSE Sensex climbed 123.82 points to 74,019.36 in early trade. The NSE Nifty went up by 56.35 points to 22,499.05.

Later, both the benchmark indices faced volatility and were trading with marginal gains.

From the Sensex basket, Hindustan Unilever, Nestle, ITC, Asian Paints, State Bank of India and Tech Mahindra were the major gainers.

HCL Technologies, Power Grid, Mahindra and Mahindra and Tata Steel were among the laggards.

In Asian markets, Seoul and Tokyo traded with gains while Shanghai and Hong Kong quoted lower.

Wall Street ended in the green on Monday.

Global oil benchmark Brent crude climbed 0.29 per cent to USD 83.57 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,168.75 crore on Monday, according to exchange data.

The BSE benchmark edged up 17.39 points or 0.02 per cent to settle at 73,895.54 on Monday. The NSE Nifty declined 33.15 points or 0.15 per cent to 22,442.70.

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