NIFTY50 slips 85 pts, SENSEX falls below 81,000 amid subdued global cues; Ola Electric shares down more than 2.5%

Mirroring global markets, the domestic stock market, too, opened in the red on Monday, September 9. Investor sentiment was subdued as the US jobs report on Friday showed a continued labour market slowdown and left traders uncertain about how far the Federal Reserve will go in cutting interest rates.

The US stocks ended with significant cuts on Friday.

At 09:18 AM, the S&P BSE Sensex was trading 183.60 points, or 0.23%, lower at 81,000.33 levels. On the NSE, the benchmark NIFTY50 was trading at 24,789.90 levels, down 62.25 points, or 0.25%.

The market breadth in the opening deals was in favour of the bears. Of 3,164 stocks traded on the BSE, 1065 advanced and 1,924 declined, while 175 stocks remained unchanged.

Sectorally, oil & gas, metals, and energy stocks were the top losers.

The broader market took more deeper cuts. The BSE MidCap index was trading 1.08% lower at 47,981.90 points while the BSE SmallCap index was trading at 55,064.84, down 1.63%. 

BUZZING STOCKS

Ola Electric Mobility was down over 2.5% as the one-month share lock-in period for the company's shareholders ends today.

Top gainers and losers on NSE

The top five gainers on the NSE were Britannia Industries, Asian Paints, SBI Life, Tata Consumer Products, and ICICI Bank. 

The losers were ONGC, NTPC, Adani Ports, Hindalco, and Power Grid.