Opening Bell: Markets trade flat, Pharma and FMCG drag, whereas IT, Energy, and Power stocks shine!

On Thursday morning, the benchmark equity indices were trading flat amidst mixed global cues.

The US equity indices S&P 500 traded lower by 1.37%, whereas the Dow Jones was down by 1.20% as investors worry about the economy’s health. The crude oil price is down by 2.67% and the bond yields are also down and trading at 2.91%.

The Asia Pacific markets are bearish as e-commerce major Alibaba’s shares fell by 3%. The Hans Seng index was trading 1.57% lower whereas the Shenzhen component gained 0.35%.

The Sensex is at 53,472.30 up by91.13points or 0.16% whereas the Nifty 50 is at 16,530.20 up by7.45 points or 0.05%, since the last trading session.

BSE Midcap was trading at 22,994.82 down by 0.54% and BSE Smallcap was at 26,536.70 down by 0.01%. Similarly, Nifty Midcap 100 was at 28,285.45 down by 0.05% and Nifty Smallcap 100 was at 9,231.65 down by 0.02%.

The top gainers on the frontline indices this morning were Reliance Industries, Cipla, TCS, UPL, Sun Pharmaceuticals Industries, and Tata Steel. Whereas the top losers were Power Grid Corporation of India, Hindustan Unilever, Bharti Airtel, Larsen and Toubro, HDFC life insurance, and Apollo Hospitals.

On the BSE,1578 shares have advanced, 1119 shares have declined and 129 shares are unchanged. Also,151 stocks have hit their upper circuit and 89 stocks have hit their lower circuit.

The top trending stocks on BSE, this morning are Adani Green Energy, Apollo hospitals, Fine Organics, Bluedart, Hikal, and Zomato.

On the sectoral front, FMCG, Finance, Telecom, Auto, and Pharma were dragging whereas Energy, IT, Metal, Oil& Gas, and Power sectors were showing a bullish trend.