The Bank Nifty index opened 230 points lower at 51,459.45.
The domestic stock market opened with a sharp decline on Wednesday. Both benchmark equity indices tumbled. The NSE Nifty 50 opened lower at 25,116.10, while the BSE Sensex fell 540 points to 82,015. The broader indices opened in the red. The Bank Nifty index opened 230 points lower at 51,459.45. Among stocks, Jindal Steel & Power, DLF and BHEL witnessed a bearish trend after intraday strength, while SBI Life is a buy with a target up to 2029.
Experts say that the Indian stock market is going through a challenging time. The fall in global markets and concerns about a possible slowdown in the US economy are affecting investor sentiment. The cautiousness ahead of the upcoming economic data, which may affect the Federal Reserve’s interest rate decisions, is also contributing to the selling pressure.
Movement in these stocks
Asian Paints, BPCL, Apollo Hospitals, Grasim Industries, Bajaj Finserv are the top gainers on Nifty, while ONGC, Wipro, LTI Mindtree, Infosys and JSW Steel are the top losers. Barring Media, all other sectoral indices are trading in the red, with Metal, PUS Bank, IT down 1 per cent each.
These companies are in the banned list
NSE added Aditya Birla Fashion & Retail, Balrampur Chini Mills and Hindustan Copper to the F&O ban on September 4, 2024. According to provisional data available on the National Stock Exchange (NSE), foreign institutional investors (FIIs) bought shares worth Rs 1,029 crore on September 3, 2024, while domestic institutional investors (DIIs) bought shares worth Rs 1,896 crore.
Asian Market Trends
According to the news of Financial Express, stock markets in the Asia-Pacific region are trading in the negative zone on Wednesday morning. Asia Dow has fallen by 1.30%, while Japan’s Nikkei 225 has fallen by 2.89%. Apart from this, South Korea’s KOSPI index is trading with a decline of 2.59%. China’s benchmark Shanghai Composite is also in the red with a decline of 0.89%.
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