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BusinessIndian equity markets open lower led by banking and IT stocks

Indian equity markets open lower led by banking and IT stocks

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The key Indian stock indices started Tuesday's trading session on a negative note, tracking losses across other Asian markets. As per reports, benchmark indices opened more than half a percentage point lower amid mixed cues from their global peers.

This morning, the BSE Sensex opened at 72,892 – down over 500 points or 0.69%. Similarly, the broader NSE Nifty started the day lower by 147 points or 0.66% at 22,125. All the key sectoral indices including banking, financials, IT and metal stocks witnessed selling pressure and were trading in the red.

Meanwhile, some companies managed to stay in the green. Jio Financial Services shares gained nearly 5% after the announcement of a new joint venture partnership with global financial giant BlackRock. Other gainers included Titan Company, M&M and Nestle .

On the other hand, Infosys, Bajaj Finance and Kotak Mahindra Bank were among the top losers on both benchmarks. The losses were broad-based with most blue-chip counters trading weak.

Going forward, global cues especially from the key Asian and European markets will guide Indian stock market. Investors also awaited cues from crude oil prices and rupee vs dollar trading. Overall, trading sentiment is expected to remain mixed amid uncertainties over inflation concerns and rate hike expectations.

Northlines
Northlines
The Northlines is an independent source on the Web for news, facts and figures relating to Jammu, Kashmir and Ladakh and its neighbourhood.

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