Sensex Opening Bell: Bad start of stock market; Sensex falls 150 points
New Delhi| There has been a sluggish start in the domestic stock market on the third trading day of the week. Sensex fell by 150 points in early trade. Whereas Nifty has slipped from the level of 25,000. Suzlon shares gained 3% after the market opened on Wednesday, while Tata Motors shares fell as much as 3%. At 9:13 am, the Sensex fell by 110.06 (0.13%) points to reach the level of 81,800.72. At the same time, Nifty was seen trading at 25,034.00, down by 7.10 (0.03%) points.
Domestic equity indices, Sensex and Nifty, opened with slight falls on Wednesday. The market was affected by the slowdown in global markets. Investors are exercising restraint while waiting for inflation data in America. These figures could influence the Federal Reserve’s upcoming rate decision.
Among Sensex stocks, shares of Tata Motors, ICICI Bank, Infosys, HDFC Bank, Titan and Tech Mahindra opened in the red, while shares of Asian Paints, Sun Pharma, Bharti Airtel, ITC, HUL and Bajaj Finance opened in the green.
Shares of Tata Motors fell more than 4% in early trade as the company cut prices of its electric vehicles and popular cars by up to Rs 2.05 lakh. It is believed that this cut has been made in view of the weak growth prospects. Subsequently, global brokerage firm UBS also released a rating of ‘selling’ the company’s shares at a target price of Rs 825.
