Indian equity benchmark indices opened with cuts in Thursday's trading, a day after the Reserve Bank of India delivered a 50 bps rate hike, as investors digest the possibility of more rate hikes ahead. Besides, the lower start followed weak global sentiment.
The 30-scrip S&P BSE Sensex fell 225.8 points or 0.41 percent at 54,666.6 while the broader Nifty fell 71.1 points or 0.43 percent at 16,285.15 during opening on weekly F&O expiry day.
All Sensex-30 shares opened in red led by losses in Axis Bank, HCL Tech, Bajaj Finserv, L&T, Ultratech Cement, M&M, Nestle, and Tech M.
ONGC, Dr Reddy's, NTPC, Coal India, Bajaj Auto and Reliance Industries were some of the stocks with gains on both benchmarks.
In the broader markets, the BSE MidCap and SmallCap indices, down up to 0.75 percent, were also trading in the red.
Amid sectoral indices, Nifty IT, realty, banks, financials and auto were down up to 0.6 percent. Pharma and oil & gas were trading in the green on the Nifty.
Global Markets
Asian stocks traded mostly lower after a decent winning streak and overnight fall of US shares. Those trading higher were led by gains in tech stocks. MSCI’s index of Asia-Pacific shares outside Japan was down by 0.22 percent.
US stocks fell on Wednesday as Treasury yields rose above the 3 percent level and oil prices jumped, fanning worries about inflation and the outlook for interest rates.
The Dow Jones Industrial Average fell 269.24 points to 32,910.9; the S&P 500 lost 1 percent to 4,115.77; and the Nasdaq Composite dropped 88.96 points to 12,086.27.
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