Amid volatility in early trade equity indices trade flat

Mumbai: After traversing nearly 300 points in the first 30 minutes of trade, the key equity indices traded on a flat note around 9.50 a.m.

The BSE Sensex was trading at 38,980.96, lower by 8.78 per cent or 0.02 per cent from the previous close of 38,989.74 points.

The volatility can be gauged by the fact that so far, it has touched an intra-day high of 39,107.37 points and a low of 38,814.79 points.

The Nifty50 on the National Stock Exchange was trading at 11,547.55 points, lower by 23.65 points or 0.20 per cent.

The indices traded in the red in the first 10 minutes of trade, then turned green, before trading on a flat note.

The Asian stock markets too traded in the red after US stocks slipped on Thursday as the release of a whistleblower report against Trump kept uncertainty high.

Though the retreat in crude prices has strengthened the Indian rupee, a strong dollar continues to keep it under stress.

"A weak Euro, US-China trade war and the ongoing global tension are giving strength to the Dollar Index," said Anuj Gupta, Deputy Vice President - Energy and Currency Research, Angel Broking.

The Indian rupee opened low at Rs 70.95 per dollar on Friday, after having closed with a 16 paisa lead at Rs 70.88 per dollar in the last session.

The dollar index was firm at 98.80 for the third consecutive day on Friday.