Mumbai: Indian stock market opened with a decline in Wednesday’s trading session. This is the second consecutive day, when the Indian stock market has started in the red mark. All the indexes are trading in the red mark at the close of the market. As of 9:40 am, the Sensex is trading at 74,949 points, down 221 points or 0.29 percent, and the Nifty is trading at 22,813 points, down 74 points or 0.33 percent.
The market trend remains negative in early trade. On NSE, 1,400
stocks are trading with a decline and 554 stocks are trading with a rise. Midcap and smallcap stocks are also trading under pressure. The Nifty Midcap 100 index is down 133 points or 0.26 percent at 52,161 points and the Nifty Smallcap 100 index is down marginally by 14 points at 16,859.
Sector-wise, Auto, Fin Services, FMCG, Bank and IT indices are trading in the red. Met, Realty and PSU Bank indices are in a bullish trend. 9 out of 30 Sensex stocks are trading in the green.
Bharti Airtel, Tata Steel, SBI, Kotak Mahindra and ITC are the top gainers. Whereas, M&M, Tech Mahindra, IndusInd Bank, HDFC Bank, Axis Bank and Asian Paints are the top losers. Most Asian markets are trading in the red. Tokyo, Hong Kong, Bangkok, Jakarta and Seoul markets are in a decline. Only Shanghai markets are trading in a bullish trend.
US markets closed with a decline on Tuesday. Crude oil benchmark Brent crude is at $84 per barrel and WTI crude is at $80 per barrel. Vaishali Parekh, Senior Technical Analyst at brokerage firm Prabhudas Lilladher, says that Nifty traded between 22,850 and 23,000 in yesterday’s session. We are still positive on Nifty. The level of 22,780 to 22,800 will act as a support. But for further growth, it is necessary for Nifty to break the level of 23,100.
