Sensex, Nifty open in red; IT, Teck stocks drag
09/11/2018 09:39
India's stock market opened lower on Friday with the key equity indices stayed under stress in the holiday-shortened week, led by selling across Teck and IT space. Overseas, the Asian stocks were trading mostly lower, following a muting closing at Wall Street in overnight trade, after the Federal Reserve decided to hold short-term interest rates steady at 2-2.25 per cent on Thursday.

At 9:28 hours, the 30-share benchmark index was trading at 35098.97, down by 138.71 points or by 0.39 per cent, and the NSE Nifty was at 10555, down by 43.4 points or by 0.41 per cent.

The top losers of the BSE Sensex pack were Bharti Airtel Ltd. (Rs. 295.40,-3.45%), Wipro Ltd. (Rs. 321.00,-1.35%), Infosys Ltd. (Rs. 667.45,-1.26%), Tata Steel Ltd. (Rs. 574.45,-1.03%), ITC Ltd. (Rs. 277.45,-0.96%), among others.

On the flip side, YES Bank Ltd. (Rs. 220.85,+2.25%), IndusInd Bank Ltd. (Rs. 1511.00,+1.87%), Adani Ports & Special Economic Zone Ltd. (Rs. 331.00,+1.35%), Asian Paints Ltd. (Rs. 1266.35,+1.24%), Sun Pharmaceutical Industries Ltd. (Rs. 589.20,+1.17%), were among top gainers on the BSE.

On the sectoral front, Teck and IT stocks were among top losers on BSE, falling as much as 0.74 per cent and 0.71 per cent, respectively.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 1431, shares advanced were 700, while 666 shares declined and 65 were unchanged.