Sensex, Nifty Open Flat Amid Weak Global Cues (Img: X)
New Delhi: Indian benchmark indices Sensex and Nifty opened almost flat on Wednesday, August 19, as investors remained cautious amid weak global cues, rising crude oil prices and higher global bond yields.
The 30-share BSE Sensex opened 17.41 points lower at 77,218.05, while the Nifty 50 slipped 2.85 points to start trading at 24,152.05. In the previous session, the Sensex closed at 77,235.46 and the Nifty ended at 24,154.90. Broader market indices also witnessed pressure in early trade, with midcap and smallcap segments trading slightly lower.
Despite the weak opening, IT stocks provided support to the market. Shares of HCL Technologies, Infosys, Eternal, Sun Pharma and Tech Mahindra emerged among the early gainers. HCL Technologies was the top performer from the Sensex pack, rising around 1.22 per cent during early trading.
On the other hand, Bajaj Finserv, Bajaj Finance, Tata Steel, Mahindra & Mahindra and Larsen & Toubro were among the major laggards. Bajaj Finserv declined more than 1.15 per cent in early trade.
Market sentiment remained affected by weakness in global equities. Asian markets declined after Wall Street moved further away from record highs as artificial intelligence-related stocks resumed their decline.
Japan’s Nikkei 225 fell sharply, while South Korea’s Kospi and Shanghai Composite also traded lower. Hong Kong’s Hang Seng was among the few regional indices showing marginal gains.
Gift Nifty indicated a flat to mildly positive opening for the domestic market. It opened 16 points higher at 24,195 compared to its previous close of 24,179.
Foreign Institutional Investors (FIIs) bought equities worth Rs 1,651.53 crore on August 18, while Domestic Institutional Investors (DIIs) purchased shares worth Rs 2,579.31 crore.
Disclaimer: This article is for informational purposes only and is not investment advice. Stock market investments involve risks; investors should do their own research before making any decisions.
