Sensex Opening Bell: Stock market slipping continues; Sensex falls 200 points, Nifty reaches below 24800
New Delhi| Indian equity indices opened with a decline for the fourth consecutive session on Monday following weakness in Asian markets as concerns remain about the US economy following weaker-than-expected employment data. Analysts also expect profit-booking in local stocks, which were trading consistently near record highs. In early trade on Monday, the BSE Sensex was seen trading down 249 points at 80,938. Nifty 50 was seen trading down 92 points at 24,759.
Among Sensex stocks, Tata Steel, Power Grid, JSW Steel, NTPC and Adani Ports opened with losses while HUL, ITC, TCS, Infosys, Asian Paints and HCL Tech showed gains. Sector wise, all sectoral indices except FMCI, IT and Realty opened with weakness. Meanwhile, Nifty Metal and Nifty Oil & Gas fell by 1.05% and 0.83% respectively.
In single shares, the shares took an upper circuit of 5% after SME stock RBM Infracon secured a service order of Rs 3,498 crore. Shares of cash-strapped domestic airline SpiceJet have risen more than 5% as the company entered into a term sheet agreement for its aircraft leases with Carlyle Aviation Management Ltd. Investors are now waiting for US inflation data this week to pick up signs about a possible cut in interest rates from the Federal Reserve later this month.
