Opening clock: Markets snaps 4-day winning streak, Sensex, Nifty gives up key levels – IT, bank shares pull

Amid weak global signals, Indian markets gained a 4-day rise as both benchmark indices – Sensex and Nifty50 – fell nearly 1 percent each in opening trading on Thursday.

In the open market, BSE Sensex has fallen above 491 points or 0.82 percent to 59,731, and Nifty50 has fallen 157 points or 0.87 percent to 17,768 intraday. After the benchmark suite, even the wider markets fell as mid-cap up and small cap each fell about 1 percent at opening.

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The 12-share banking index leads the maximum fall in the benchmark as Nifty Bank has slipped above 453 points or 1.2 per cent to the 37,424 level, drawn by private lenders HDFC Bank.

As many as 5 stocks advanced and 45 stocks fell on Nifty50 at the opening. IT heavyweights like Tech Mahindra, Infosys and HCL Tech each fell 1.7 percent, followed by Eicher Motors and HDFC Bank fell 1.6 and 1.5 percent respectively when the market opened.

The only five stocks that opened in the green are Sun Pharma, Bharti Airtel, Dr Reddy, Hindalco, Cipla each up between 0.6-0.8 percent in the early morning trading on Thursday.

All sector indices opened in red, with Nifty IT, Bank and Financials each slipping over 1 per cent, followed by Auto and FMCG. Minutes after opening, the metal index reported strength at opening.


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