Sensex Opening Bell: Weak start in the stock market; Sensex falls 100 points, Nifty slips below 22500
Sensex Opening Bell: Among Sensex stocks, Tata Steel, Power Grid, Tata Motors, Tech Mahindra and JSW Steel opened with losses, while UltraTech Cement, Bajaj Finance, Bharti Airtel and ITC remained in gain. Talking about individual stocks, RVNL shares saw a rise of more than 8% in early trade.
Indian equity indices also opened marginally lower on Monday, following a sluggish start for Asian peers ahead of US inflation data. During this period, shares of HDFC Bank, Infosys and Tata Steel were seen trading with weakness.
Monday at 9.24 am, the BSE Sensex was trading at 74,024, a decrease of 95 points or 0.13%. The Nifty50 was down 14 points, or 0.06%, at 22,479 at the same moment. Sensex stocks that saw gains at the opening included UltraTech Cement, Bajaj Finance, Bharti Airtel, and ITC; among the losers were Tata Steel, Power Grid, Tata Motors, Tech Mahindra, and JSW Steel.
In terms of specific stocks, early trading saw an increase of over 8% for RVNL shares. Madhya Pradesh Metro Rail Corporation has sent the joint venture of the company the letter of acceptance (LOA) for the Rs 543 crore project. Shares of HG Infra Engineering rose 5% after it signed the letter of agreement with the National Highways Authority of India for the Rs 610 crore project.
Sector-wise, Nifty Realty increased by 1.2%, while Nifty PSU Bank registered a gain of 0.75%. Nifty Pharma, FMCG and Consumer Durables also gained, while Nifty Auto, Financial, IT, Metal and Media declined. In the broader market, Nifty Midcap100 gained 0.3%, while Nifty Smallcap100 slipped 0.15%.
