Stock Market Opening: The trend of gains broke, Sensex fell by 200 points, IT stocks made losses
The Indian stock market today broke the continuation of the ongoing gains from the first two trading sessions of this week. Under the pressure of the global market, investors came on sell-off from the beginning today. Sensex opened at 54,252 with a loss of 269 points in the morning and started trading, while Nifty opened at 16,187 with a loss of 92 points and trading started. The fall in the global market had a big impact on the sentiments of the investors today and they came on profit-booking from the very beginning. Due to this, the Sensex was trading at 54,360 with a fall of 200 points at 9.27 am, while the Nifty slipped 50 points to reach 16,227.
Loss visible here today
Investors have been selling shares in HCL Technologies, Asian Paints, Tata Consumer Products, TCS, Bajaj Finance, Tech M, Infy, Wipro, L&T and HUL since this morning. Due to continuous profit-booking, these stocks have broken up to 1.5 percent and have come in the category of top losers.
On the other hand, ONGC, Bharti Airtel, Sun Pharma, Tata Steel, M&M, NTPC, Ultratech Cement, PowerGrid and Dr Reddy's stocks continue to invest continuously, making the stocks of these companies in the list of top gainers. Despite the decline in today's trading, BSE Midcap and Smallcap are seeing a jump of 0.14 percent.
IT, FMCG are doing damage
Looking at today's business sector-wise, despite the decline, the auto, pharma and metal sector stocks are showing a rise and have gained up to 0.6 percent. At the same time, the financial, FMCG and IT sectors are under pressure today due to profit-booking. The shares of Surya Roshini have made a gain of 4 percent in the early trade today.
Asian markets mixed trend
Most of the stock markets of Asia opened on a decline this morning, while some markets are seeing a rise. The Singapore Stock Exchange was trading down 0.80 percent, while Japan's Nikkei was up 0.67 percent. Taiwan's stock market is down 0.41 percent, while South Korea or Kospi market is trading at a loss of 0.17 percent. China's Shanghai Composite is also down 0.01 percent today.