Sensex Drops More Than 200 pts in opening trade, Nifty Trades Below 15,800
Tuesday’s opening trades saw a decline in Indian equities indexes, ending a three-day gaining streak amid subdued indications from the international markets.
Tuesday’s opening trades saw a decline in Indian equities indexes, ending a three-day gaining streak amid subdued indications from the international markets. Early trading saw a decline in Asian shares, mirroring the overnight choppy Wall Street session.
Following last week’s collapse, a rise in crude oil prices further lowered market confidence. Today, Brent crude futures increased $1.08, or 0.9%, to $116.17 a barrel.
The local indices got off to a higher start, according to trends on the Nifty Futures on the Singapore Exchange (SGX Nifty).
Early in the session, the broad NSE Nifty slid down 72 points or 0.45% to trade at 15,760, while the 30-share BSE Sensex dropped 236 points or 0.4% to 52,926.
As the Nifty Midcap 100 fell 0.41 percent and the small-cap index fell 0.55 percent, mid- and small-cap equities were trading poorly today.
The National Stock Exchange’s 15 sector gauges, 14 of which were in the red, were trading. The NSE platform was outperformed by the sub-indices Nifty Consumer Durables and Nifty Financial Services, which declined by as much as 1.68 percent and 0.85 percent, respectively.
In terms of individual stocks, Titan was the biggest loser on the Nifty, with the stock falling 3.06 percent to 1,977.95. Other underperformers were Asian Paints, Bajaj Auto, Adani Ports, and Bajaj Finserv.
On the BSE, 1,324 shares were decreasing while 940 were rising, resulting in a negative overall market breadth.
Among the top losers on the 30-share BSE index were Kotak Mahindra Bank, HDFC Bank, Titan, Asian Paints, Bajaj Finserv, Tech Mahindra, Wipro, UltraTech Cement, Nestle India, Bajaj Finance, Infosys, and Kotak Finserv.
Following a deal to buy local grocery-delivery startup Blinkit for Rs. 4,447 crore ($567.94 million), food delivery company Zomato fell as much as 6.38 percent to trade at Rs. 61.65.
Additionally, shares of Life Insurance Corporation of India (LIC), the largest domestic financial investor and insurer in the nation, declined 0.71 percent to trade at 659.95.
On Monday, the Sensex increased by 433 points or 0.82 percent to close at 53,161, while the Nifty increased by 133 points or 0.85 percent to end the day at 15,832.