Opening bell: In response to negative global cues, Sensex and Nifty both decline

Due to negative global cues, equity indices opened with a gap down and traded with losses in early trade. Losses were also seen in the broader market.

The BSE Sensex plummeted by 367 points and is trading at 56,988.38 levels. The BSE MidCap moved downwards by 101 points and is trading at 24,529.03, while the SmallCap has dropped by 96 points and is trading at 28,821.88 levels. The stocks trading in the green on the BSE Sensex are Reliance Industries, NTPC, and Tata Steel.

The Nifty 50 index after ending in green yesterday opened in the red today down by 104 points and is now trading at 17,096.65 levels. Bank Nifty similarly is trading in red plunging by 304 points and is trading at 36,100.25 levels. The gainers on the Nifty 50 are Reliance Industries, NTPC, Tata Steel, and Adani Ports.

The market outlook is negative as out of 2,601 stocks traded, the numbers of stocks advanced are 1, 007, and 1,504 stocks that have declined in the morning session, 109 stocks are locked up in the upper circuit and 101 stocks are locked in the lower circuit today. In the early deals 97 stocks are trading at a 52-week high and there are 16 stocks that are trading at a 52-week low.

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