Sensex Opening Bell: Stock market again sold; Sensex slips 180 points, Nifty hits 31 points
New Delhi| The stock market opened flat on Friday, followed by a big fall in both Sensex and Nifty during the initial trading hours. The benchmark Sensex opened at 81,426.21, down 185.20 points, while the Nifty opened at 24,947.15, down 51.30 points.
Out of Nifty 50 companies, 18 shares rose while 32 shares registered a decline. Buying was seen in shares of HCL Technologies, Hindalco, JSW Steel, Wipro and Bajaj Auto. On the other hand, shares of Cipla, Trent, Asian Paints, TCS and Power Grid showed a decline.
VK Vijayakumar, chief investment strategist, Geojit Financial Services, said there will be volatility in the market in the near term. “The market may remain volatile in the near term with fluctuations between FII sales and DII purchases”, he said
The rupee rose two paise to 83.96 against the US dollar in early trade on Friday amid a weakening dollar. However, according to forex traders, rising crude oil prices and continued FII withdrawals limited further gains in the domestic currency.
He said a weak start to the day in domestic stock markets also stopped the local currency from moving forward. In the interbank foreign exchange market, the rupee opened at 83.97 against the US dollar, 1 paise higher than the previous day’s closing price. After this the rupee reached 83.96. The rupee had closed at 83.98 on Thursday.
