Sensex below 38,700 in early trading, Nifty around 11,600

Mumbai: Equity benchmark indices turned volatile during early trading on Tuesday with stocks of oil marketing firms continuing to be in the negative territory on worries over rising global crude oil prices.

At 10:15 am, the BSE S&P Sensex was up 35 points at 38,680 while the NSE Nifty was up 6 points to 11,601.

All sectoral indices were trading in the green on National Stock Exchange except the Nifty IT index, which down 0.3 percent due to a marginal appreciation in the Indian rupee.

Among stocks, Zee Entertainment gained by nearly 4.5 percent. Other winners included Indiabulls Housing Finance, Yes Bank, ONGC and Dr. Reddy’s Labs.

But state-owned GAIL was down by over 3 percent. Other which lost included Bharat Petroleum Corporation Ltd, Larsen & Toubro, Adani Ports, and Infratel.

Meanwhile, Asia stocks rose marginally as many markets reopened after the long Easter break. But there are growing concerns about tight global supplies after the United States announced a further clampdown on Iranian oil exports.

On Monday, international benchmark Brent crude soared 2.9 percent to settle at 74.04 dollars a barrel.

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