Stock market continues to slide; Sensex falls 200 points, Nifty falls below 24800
Sensex Opening Bell: Among Sensex stocks, Tata Steel, Power Grid, JSW Steel, NTPC, and Adani Ports opened with losses while HUL, ITC, TCS, Infosys, Asian Paints, and HCL Tech showed gains.
Indian equity indices opened lower in trade for the fourth consecutive session on Monday, mirroring Asian markets, after apprehensions about the US economy persist following weaker-than-expected employment data.
Analysts also said some profit booking was expected in local stocks that were visibly trading at record-high levels consistently. Early Monday, BSE Sensex was seen trading 249 points lower at 80,938, while Nifty50 traded 92 points lower at 24,759.
Among Sensex stocks, Tata Steel Opens, Power Grid Opens, JSW Steel Opens, NTPC Opens and Adani Ports Opens began with losses while HUL Opens, ITC Opens, TCS Opens, Infosys Opens, Asian Paints Opens and HCL Tech gained. Sectorally, all sectoral indices opened with weakness except FMCI, IT and realty. Meanwhile, Nifty Metal and Nifty Oil & Gas shed 1.05% and 0.83%, respectively.
Among individual stocks, SME stock RBM Infracon jumped to an upper circuit of 5% after the company received a service order valued at Rs 3498 crore. Shares of cash-strapped domestic airline SpiceJet jumped over 5% after the company inked a term sheet agreement for aircraft leases with Carlyle Aviation Management Ltd. Now, investors jostling for US inflation data this week for cues on a possible rate cut by the Fed later this month.
