Markets

Sensex, Nifty off to a weak start amid tepid global cues

NEW DELHI: The domestic indices opened the Friday's session on a flat note with negative bias following weak global cues.

Fed's plans to continue its balance sheet reduction and the threat of a partial US government shutdown fuelled investor unrest across the globe, which cast a pall of gloom over Indian markets too. However a significant fall in crude oil prices helped cap losses.

Around 9:30 am, the BSE Sensex shed 46.41 points, or 0.13 per cent, at 36,385.26, while its Nifty twin declined by 13.95 points, or 0.13 per cent, at 10,937.75.

On BSE Sensex, 19 stocks gained while 11 declined. Bharti Airtel was biggest Sensex gainer and rallied over 2 per cent after the company decided to sell a further 32 per cent stake in Bharti Infratel, to create resources to strengthen its 4G networks and counter Reliance Jio Infocomm.

Other index gainers were – Tata Motors, M&M, Tata Steel, Vedanta and L&T.

On the other hand Infosys ruled the red zone, falling 1.51 per cent. Other losers included – HDFC, Coal India, Asian Paints, TCS and HDFC Bank.

In the 50-share index 31 stocks advanced while 19 declined.

On BSE sectoral front telecom and metal advanced the most, surging 0.96 per cent and 0.66 per cent, respectively.

Top sectoral losers included IT, consumer durable, teck and oil & gas.

BSE midcap and smallcap indices outperformed benchmark Sensex and gained 0.45 per cent and 0.50 per cent, respectively.

Original Article

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