Markets open in negative zone; TECK, IT, metal stocks derail

After a flying start to Samvat 2075, markets opened in the negative zone on Friday amidst negative global cues and lackluster buying in  healthcare, infra, oil and gas sector.  

Markets open in negative zone; TECK, IT, metal stocks derail

New Delhi: After a flying start to Samvat 2075, markets opened in the negative zone on Friday amidst negative global cues and lackluster buying in TECK, IT, metal stocks sector.

The BSE Sensex was trading 114.08 points, or 0.32 percent, lower at 35,123.60. It had dropped 226.45 points in opening trade. The NSE Nifty saw similar movement, and was trading 31.05 points, or 0.29 percent, lower at 10,567.35.

Markets were closed Thursday on account of Diwali Balipratipada.

Top losers in the morning session include Bharti Airtel, Wipro, Infosys, Tata Steel, ITC, ONGC, HDFC, NTPC and SBI, falling up to 1.65. percent. Bucking the weak market trend, Yes Bank, Adani Ports, IndusInd Bank, PowerGrid, Asian Paints, Sun Pharma and Hero MotoCorp rose up to 2.36 percent.

Foreign portfolio investors (FPIs) bought shares worth a net of Rs 31 crore Wednesday, while domestic institutional investors (DIIs) were net buyers too to the tune of Rs 27 crore, According to provisional data available with the BSE.

Among sectoral indices TECK stocks fell the most at 0.79 percent, followed by IT (0.74 percent), Metal (0.62 percent), FMCG (0.30 percent), Realty (0.20 percent), Bankex (0.18 percent), Consumer Durables (0.15 percent), Power (0.14 percent) and Auto (0.11 percent).

MSCI`s broadest index of Asia-Pacific shares outside Japan eased 0.06 percent. Australian stocks were flat, South Korea`s KOSPI edged up 0.2 percent and Japan`s Nikkei fell 0.2 percent. The S&P 500 lost 0.25 percent and the Nasdaq shed 0.53 percent on Thursday after the Fed`s statement, and energy stocks were the biggest drag on the S&P as U.S. crude oil prices fell, Reuters said.

With Agency Inputs

 

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