Opening bell: On the third consecutive day the market opens in red
The benchmark indices fall by 0.50% amid fear are rising inflation and rate increases.
On Tuesday, the Sensex and Nifty traded on a gloomy note, reflecting sluggish global markets. During the opening bell on Indian markets, banking, financial, IT, real estate, and pharmaceutical sectors, as well as metal stocks, weighed the most. As investors' attention has switched to inflation risk, it has
remained a major headwind for Indian markets as well as global markets.
At 9:30 AM, the Sensex has slipped in red by 328 points and is trading at 52,517.76 levels. BSE MidCap likewise, slipped by 40 points and is trading at 21,805.30 levels, BSE SmallCap has too dropped by 58 points and is trading at 24,985.07 levels. The stocks trading in the green on the BSE Sensex are Power Grid Corporation of India, Bharti Airtel, NTPC, Mahindra & Mahindra, and Tata Steel.
The Nifty 50 index similarly opened with a negative note down by 94 points and is now trading at 15,680.20 levels. Bank Nifty plummeted by 257 points to trade at 33,148.70 levels. The gainers on Nifty 50 are Power Grid Corporation of India, Bharti Airtel, NTPC, Mahindra & Mahindra, and Bajaj Finserv.
On the Sensex, the outlook is negative as out of 2,655 stocks, only 1,190 stocks advanced and only 1,359 stocks have declined in the morning session. Whereas, there are 89 stocks locked up in the upper circuit and 104 stocks are locked in the lower circuit today, also 26 stocks are trading at a 52-week high and there are 109 stocks that are trading at a 52-week low.
The US Dow Jones futures were up 184 points at the time of writing, predicting a bullish start to the day for markets on Wall Street. On fears that aggressive U.S. interest rate hikes could force the world's largest economy into recession, Asian equities fell on Tuesday. Wall Street passed a certified bear market milestone, and bond rates touched a two-decade high.
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