Sensex Opening Bell: Weak start in stock market; Sensex slips 500 points, Nifty below 25050

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New Delhi| Due to weakness in banking stocks, the domestic stock market is declining for the second consecutive day. After a sluggish start, the Sensex has slipped to 500 points. Whereas Nifty went below 25,050. At 9:056, the Sensex fell 521.30 (0.63%) points to 81,650.46. On the other hand, Nifty appeared to be trading at the level of 25,015.85, sliding by 129.25 (0.51%) points.

Sector wise, Nifty PSU Bank index fell by 1% due to weakness in SBI and Canara Bank shares. Shares of Nifty Auto, financial sector, consumer durables and oil and gas sectors also opened on the red mark. At the same time, shares of the smallcap sector based on the domestic market strengthened by 0.4%. Shares of mid cap sector were seen trading flat.

MSCI, the largest index of shares in the Asia-Pacific region outside the global market Japan, climbed 0.2%. It has fallen 2.3% so far this week. Nikkei broke 0.1% It fell 3.9% this week. China’s stock markets opened with a mixed trend, while Hong Kong’s Hang Seng remained flat. Nasdaq Futures dropped 0.6%, while S&P Futures weakened 0.3%.

Foreign institutional investors became net sellers on September 5 according to market data. He sold equity worth Rs 688 crore, while domestic institutional investors bought equity worth Rs 2,970 crore on the same day.

Crude oil appeared flat in early trade on Friday. Brent crude futures rose 1 cent, or 0.01%, to $72.7. The rupee showed a slight rise on Tuesday and was seen trading at Rs 83.9350 against the US dollar at 9:30 am, up from Rs 83.9825 in the previous session.