Sensex Opening Bell: Stock market starts sluggish; Sensex slips 100 points, Nifty below 25400
New Delhi| Benchmark equity indices fell in early trade on Wednesday ahead of the US Fed’s much-awaited decision on interest rates. IT sector stocks showed weakness during this period. In the initial business, the thirty-share BSE Sensex fell 130.24 points to 82,949.42 points. NSE Nifty fell by 37.75 points to 25,380.80 points.
Among the 30 Sensex companies, Tech Mahindra, Infosys, Tata Consultancy Services, HCL Technologies, Asian Paints and Sun Pharma lagged the most. Bajaj Finance, ITC, Bajaj Finserv and HDFC Bank were among the gainers. In Asian markets, Tokyo remained bullish, while Shanghai declined. American markets closed on a mixed trend on Tuesday.
VK Vijayakumar, chief investment strategist, Geojit Financial Services, said, “Markets around the world are keeping an eye on the Fed’s decision tonight”. Perhaps more important than the Fed’s action would be the Fed’s comment and message”
Foreign institutional investors (FIIs) became buyers on Tuesday and bought equity worth Rs 482.69 crore, according to exchange data. Brent crude, the global oil benchmark, dropped 0.46 percent to $73.36 a barrel. The BSE index climbed 90.88 points, or 0.11 percent, to an all-time high of 83,079.66 points, continuing its record rally for the second consecutive day on Tuesday. Nifty climbed 34.80 points or 0.14 percent to an all-time high of 25,418.55 points.
