Opening bell: The market trades on a negative note with bearish sentiments
At the start of the trading session on Wednesday, the major market indices were trading with limited losses.
On Wednesday, Asian stocks were neutral. On the BSE index except for the oil and gas index, all other sectoral indices were trading in the green. Bharat Dynamics (BDL) gained 4.87% after the state-run firm got a contract with the Ministry of Defence worth Rs 2,971 crore. RVNL (Rail Vikas Nigam) increased by 4.01%. Northeast Frontier Railway has issued a Letter of Acceptance (LoA) to the company's joint venture, RVNL - Bhartia JV, for the construction of a single line BG tunnel.
At 9:45 AM, the Sensex has slipped in red by 60 points and is trading at 55,505.45 levels. The BSE MidCap on the other hand gained 24 points and is trading at 23,168.70 levels, while SmallCap has too jumped by 173 points and is trading at 26,544.36 levels. The stocks trading in the green on the BSE Sensex are Asian Paints, NTPC, Tata Steel, ITC, and Kotak Bank.
The Nifty 50 index similarly opened on a slightly negative note losing by 7 points and is now trading at 16,577.35 levels. The Bank Nifty trade on the flip side is up by 90 points to trade at 35,577.80 levels. The gainers on the Nifty 50 are Asian Paints, NTPC, Coal India, Tata Consumers, and Tata Steel.
On the Sensex, the outlook is positive as out of 2,893 stocks, 1896 stocks advanced and only 857 stocks have declined in the morning session. Whereas, there are 155 stocks locked up in the upper circuit and 101 stocks are locked in the lower circuit today. Also, 51 stocks are trading at a 52-week high and 21 stocks are trading at a 52-week low.
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