Stock Market Opening Bell: Sensex, Nifty trade lower amid weak global cues, IT stocks drag

Share Market Today: In early trade, 1,168 stocks in the Nifty pack were trading in the green, while 1,056 were trading in the red. 75 stocks remained unchanged.

Mumbai:

Sensex, Nifty Today: Indian benchmark indices Sensex and Nifty opened lower on Tuesday amid weak global cues as IT stocks witnessed selling pressure a day after the stock market ended with a gain. While the 30-share BSE Sensex was down by 138.25 points to open at 82,038.20, Nifty shed 44.5  points to start the trading session at 24,956.65. In the last trading session, the Sensex closed at 82,176.45 and the Nifty 50 at 25,001.15. In the broader market, the BSE Smallcap and the BSE Midcap indices started trading in the red territory. 

From the Sensex pack, IndusInd Bank and State Bank of India were the only two stocks in green in the opening trade, with IndusInd being the biggest gainer with a jump of over 0.56 per cent. On the other hand, stocks like NTPC, HCL Tech, Mahindra & Mahindra, TCS, and Eternal were in the red at the time of writing this news, with NTPC falling around 1.09 per cent.

In early trade, 1,168 stocks in the Nifty pack were trading in the green, while 1,056 were trading in the red. 75 stocks remained unchanged. 

What did Gift Nifty indicate?

Gift Nifty, an early indicator for the Nifty 50, indicated a negative start as it opened in the red at 25,027.50, against the previous close of 25,049.50.  

Asian Markets Today

Meanwhile,  Asian shares traded mostly lower today with US markets closed for Memorial Day. 

At the time of writing the news, Japan’s Nikkei 225 was down by 71.83 points and was trading at 37,459.70. Hong Kong’s Hang Seng shed 50.84 points or 0.22 per cent and South Korea’s KOSPI fell 13.33 or 0.50 per cent. China’s Shanghai Composite was in red too at 3,335.76 – a fall of 0.33 per cent.

How did individual sectors perform?

Major Nifty sectoral indices traded in the red zone, with the Nifty IT losing 0.64 per cent in the opening trade. The Nifty Auto Index was down by 0.47 per cent in the early trade. Similarly, Nifty FMCG dipped 0.26 per cent, and the Nifty Metal slipped by 0.12 per cent.

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