Opening Bell: Indian market trades lower amid weak global cues

Telecom, Auto and Realty stocks are on the rise, whereas IT, Metal and Energy shares erode the gains! 

On Thursday morning, the benchmark equity indices opened lower by almost a per cent each owing to weak global cues. The Asia Pacific market also dropped due to weaker sentiments and shrinking factory activity in China. The Japanese Nikkei Composite index was down by 1.64% and China’s Shanghai Composite is trading higher by 0.24%. 

The US Equity indices, ended lower on Wednesday as the core indices Dow Jones and S&P 500 settled by 0.88% and 0.78%, respectively, whereas the tech-heavy Nasdaq index ended marginally lower by 0.56%. 

The Sensex is at 59,086.24, down by 450.8 points or 0.76% whereas the Nifty 50 is trading at 17,625.90 up by 133.40 points or 0.75%, since the last trading session. Meanwhile, the Nifty Bank is trading lower by 0.15% at 39,477.60. 

The top gainers on the frontline indices this morning were Bajaj Finserv, Tata Consumer Products, Bharti Airtel, Maruti Suzuki, and SBI. Whereas the top losers were Hindalco Industries, ONGC, TCS, SBI Life Insurance Company, and Infosys.  

BSE Midcap was trading at 25,528.88, up by 0.47%. The top gainers of BSE Midcap Ashok Leyland, AU Small Finance Bank, ABB India, Endurance Technologies, and TVS Motors Company.. Whereas the shares of Zee Entertainment Enterprises, Biocon, Info Edge ( India), Torrent Pharmaceuticals, and Power Finance were pulling down the index. 

BSE Smallcap was at 28774.65, up by 0.43%. The top gainers of this index were Dish TV, Tata Teleservices (Maharashtra), Best Agrolife, Aarti Surfactants, and Savita Oil Technologies, whereas the top losers of the index were Techno Electric and Engineering, Spice Jet, MMTC, Future Lifestyle Fashions, and Chennai Petroleum Corporation. 

On the BSE, 1,903 shares have advanced, 1,012 shares have declined and 144 are unchanged. Also, 167 stocks have hit their upper circuit and 62 stocks have hit their lower circuit. 

The top trending stocks on BSE, this morning are Bajaj Auto, TVS Motor Company, Bank of Baroda, Bharat Electronics, Ashok Leyland, ABB India, Tata Teleservices, Escorts Kubota, and Bajaj Finserv. 

On the sectoral front, IT, Energy, Oil & Gas, and Metal sectors were the big laggards whereas Telecom, Auto, and Realty sector stocks were gaining on the bourses.