Opening bell: Sensex sinks over 500 points in early trade, market breadth is weak
In the morning session, benchmark indices were trading with significant losses.
All other NSE sector indices traded in the red, with the exception of the Nifty Oil & Gas index. Mixed Asian cues, combined with continuous FII selling, tainted sentiment. Investors were also cautious ahead of the Reserve Bank of India's (RBI) policy decision, which is scheduled for later this week. HLE Glascoat is now trading at Rs 3,480, up 1.77%. The company's board of directors approved a 5-for-1 stock split and a Rs 350 crore fundraising effort. On Tuesday, Asian stocks were mixed, with the yen hitting a 20-year low as investors awaited U.S. inflation data. Brent crude for the August 2022 settlement was up 88 cents, or 0.74%, to USD 120.39 a barrel on the commodities market.
At 9:35 AM, the Sensex slipped in red by 468 points and is trading at 55,206.83 levels. BSE MidCap likewise, slipped by 159 points and is trading at 22,580.23 levels, BSE SmallCap has too dropped by 80 points and is trading at 26,160.02 levels. The stocks trading in green on the BSE Sensex are Reliance Industries, Power Grid Corporation of India, and NTPC.
The Nifty 50 index similarly opened with a negative note down by 133 points and is now trading at 16,435.95 levels. Bank Nifty was also chopped down by 264 points to trade at 35,045.70 levels. The gainers on the Nifty 50 are ONGC, Coal India, NTPC, Hindalco Industries, and Reliance Industries.
On BSE, we have 1223 stocks advancing and 1348 stocks declining in the morning session. Whereas, there are 102 stocks locked up in the upper circuit and 106 stocks are locked in the lower circuit today. Also, 39 stocks are trading at a 52-week high, and there are 36 stocks that are trading at a 52-week low.
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