NIFTY 50 opens 140 points down, Sensex falls 500 points to trade below 73,000
Upstox
2 min read • Updated: April 16, 2024, 9:42 AM
Summary
Amid the global rout, Indian broader indices are showing resilience as NIFTY midcap 100 and NIFTY smallcap 100 are trading positive despite weak opening on benchmark indices.
Indian markets open lower, tracking subdued global cues. The NIFTY 50 opened 147 or 0.66% down, while Sensex is set to open 500 points down at the 72,892 mark.
The Asian markets, too, are showing heavy weakness on Tuesday morning as the global economy jitters with various global factors such as delayed rate cuts in the US, mounting geopolitical tensions, etc. The Japanese Nikkei index is the leading with losses of over 2% on Tuesday morning.
The broader strength of the market also shows weakness, as 47 out of 50 stocks opened in red on Tuesday morning. The morning weakness was largely led by IT and Banking stocks like Infosys (-1.3%), TCS (-1.3%), ICICI Bank (-0.6%) and HDFC Bank (-0.3%).
Top Gainers in the NIFTY 50 are Eicher Motors (+0.9%), Titan (+0.9%) & M&M (+0.8%) The top Losers in the NIFTY 50 are LTIMindtree (-2.5%), Bajaj Finance (-1.2%), and IndusInd Bank (-1.2%).
The NIFTY midcap 100 and smallcap 100 are showing resilience on Tuesday morning as the NIFTY smallcap 100 is trading positive with 0.4% gains, and the NIFTY midcap100 is trading flat with no major change over the previous day.
On the Sectoral front, NIFTY consumer durable remains the sole gainer with 0.36% gains, while NIFTY IT & Banks are the top losers with 1.4% and 0.3% losses on Tuesday morning.
The Gold prices on MCX are trading at ₹72,900 levels, showing steady gains over the previous day. At the same time, crude oil futures are trading nearly 1% up on MCX at the ₹7170 mark.
The Foreign institutional investors remained net sellers on Monday to the tune of ₹3,268 crore, and DII’s continued to mop up Indian equities for the worth of ₹4,762 crore.
Top Trending Stocks
Jio Financial Services is trading 4% higher on Tuesday morning after announcing a new JV with BlackRock for its broking and wealth management business.
Shares of LTIMindtree are trading lower by 2.5% as two senior-level executives resigned from the post of executive vice president. Pankaj Chugh and Gregory Dietrich have resigned as executive vice-president of global sales.
Reliance Industries will be announcing its FY24 results on April 22 and will also consider a dividend of ₹9 per share.