Indian benchmark indices opened lower today in line with negative global markets. Sensex opened 281 points lower at 60391 and Nifty slipped 71 points to17,755. The market capitalisation of BSE-listed firms fell to Rs 263.47 lakh crore.
L&T, Sun Pharma and Maruti were the only Sensex gainers, rising up to 0.46 per cent in early trade. Of 30 Sensex shares, 27 were trading in the red.
Wipro, IndusInd Bank, Ultratech Cements, PowerGrid, HCL Tech and Bajaj Finserv were the top Sensex losers, falling up to 1.18%.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “The US macro data continues to dictate equity markets globally. The US markets reacted sharply negatively to the series of economic data indicating that the process of disinflation is slow and, therefore, the Fed will have to continue raising rates longer than expected earlier. This pushed up the 10-year bond yield sharply to 3.95% and stocks fell sharply. These negative US equity market trends are impacting equity markets everywhere and India cannot be an exception to this trend at least in the near-term.”
Banking, IT stocks and oil and gas were the top sectoral losers with their BSE indices falling 233 points, 196 points and 171 pts, respectively. BSE pharma index rose 44 points to 22,129.
BSE mid cap and small cap indices fell 100 points and 86 points, respectively. Market breadth was negative with 807 stocks trading higher against 1676 stocks falling on BSE. 108 shares were unchanged.
Foreign institutional investors were net buyers on Tuesday as they bought shares worth Rs 525.8 crore, as per exchange data.
Previous session
Indian equity benchmarks on Tuesday extended their fall for the third straight session, dragged by technology and state-owned lenders. Sensex was down 19 points, or 0.03 per cent, at 60,673 and NSE Nifty index fell 18 points, or 0.10 per cent, to close at 17,827. Mid and smallcap shares finished on a weak note, with the Nifty Midcap 100 and smallcap shedding 0.36 per cent, respectively. India VIX jumped 4.67 per cent to 14.01.
Global markets
In Asia, Tokyo’s Nikkei 225 was trading 344 points lower at 27131 and the Hang Seng in Hong Kong fell 31 pts to 20,497. The Shanghai Composite Index was flat at 3298 and the Kospi in Seoul was down 31 pts at 2428 . In the US, the Dow Jones Industrial Average fell 697 points to 33,129 on Tuesday. The Nasdaq composite slipped 295 points to 11,492 and S&P 500 slipped 81.75 to 3,997.
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