Stock market opens lower on escalating Middle East tensions

The NSE Nifty opened in the red but maintained 10,400.

Stock market opens lower on escalating Middle East tensions

New Delhi: Stock market opened lower on Thursday amidst weak Asian cues on escalating Middle East tensions. But minutes into the trading the BSE Sensex pared opening losses and was trading in the green.

At 9.25 am the BSE sensex edged up 21.70 points or 0.06 percent to 33,962.14. The NSE Nifty opened in the red but maintained 10,400. Nifty was down 7.00 points or 0.07 percent at 10,410.15. IT, Teck, consumer durables, auto and power indices were in the positive zone, rising up to 1.08 percent. Major gainers were TCS, Infosys, Wipro, ICICI bank, ONGC, Tata Motors, M&M and Hero MotoCorp, gaining up to 2.24 percent.

Meanwhile, on a net basis, domestic institutional investors (DIIs) bought shares worth Rs 111.82 crore yesterday, while foreign portfolio investors (FPIs) also bought equities worth Rs 362.30 crore, provisional data showed.

Asian stocks came under pressure on Thursday as the threat of imminent U.S. military action in Syria rattled investors and sent oil prices to their highest levels since late 2014 on concerns about supply.

MSCI`s broadest index of Asia-Pacific shares outside Japan slipped 0.05 percent in early trade while Japan`s Nikkei dropped 0.4 percent.

On Wednesday, the S&P 500 lost 0.55 percent and the Nasdaq Composite dropped 0.36 percent while energy shares gained more than 1 percent on rising oil prices.

With Agency Inputs

By continuing to use the site, you agree to the use of cookies. You can find out more by clicking this link

Close