Mumbai (Maharashtra): The stock market opened on a downward trend, losing the positive momentum from the previous trading day on Tuesday.
The Sensex, India’s benchmark stock index, began trading 165.44 points lower at 72,548.72, while the Nifty 50 index, which represents the National Stock Exchange of India’s top 50 companies, opened down 45.40 points at 22,061.00.
However later they were trading higher. At 10:25 am, Sensex was trading 87.02 points higher at 72,795.17. Whereas, Nifty was trading 0.35 points higher at 22,121.90.
This decline at the opening bell signalled a shift from the positive sentiment witnessed in recent sessions.
Among the Nifty companies, there were 17 advances and 33 declines. Notable gainers included Kotak Bank, Power Grid, Apollo Hospitals, UPL, and Dr Reddy, while Eicher Motors, Hero Motocorp, Bajaj Auto, M&M, and HDFC Life were among the top losers.
Despite the opening dip, market analysts anticipate marginal changes in the Indian stock market indices throughout the day, influenced by mixed global cues. The Gift Nifty trends also indicated a subdued start for the primary Indian benchmark index.
In the previous trading session, domestic equity indices had extended gains for the fifth consecutive session, with the Nifty achieving an intraday all-time high.
The Sensex had concluded at 72,708.16, marking a rise of 281.52 points, while the Nifty 50 settled at 22,122.25, up by 81.55 points or 0.37 per cent.
(With inputs from ANI)
