Opening Bell: Markets open lower, Nifty hovers over 17,500 level

Realty, Private Banks, and Telecom stocks are on the move in the morning trade.

On Wednesday morning, the benchmark equity indices opened on the lower side as the US market continues its losing streak for the third day now.

The Asia Pacific markets are also showing a bearish trend as the Japanese Nikkei Composite index dipped by 0.50% and China’s Shanghai Composite is trading lower by 1.40%. Hong Kong’s Hang Seng index is also down by 1.33%.

The US Equity indices, ended lower on Wednesday with the Dow Jones and S&P 500 dropping by 0.47% and 0.22%, respectively, whereas the tech-heavy Nasdaq index ended flat on the bourses.

The Sensex is at 58,8971.86 down by 59.44 points or 0.10% whereas the Nifty 50 is trading at 17,975.81 down by 10 points or 0.05%, since the last trading session. Meanwhile, the Nifty Bank is up and trading higher by 0.01% at 38,700.15.

The top gainers on the frontline indices this morning were IndusInd Bank, NTPC, Sun Pharmaceutical Industries, Power Grid Corporation of India, and ITC. Whereas the top losers were Asian Paints, Titan Company, Nestle, TCS, and Tata Steel.

BSE Midcap was trading at 24,7821.78 up by 0.21%. The top gainers of BSE Midcap were RBL Bank, IDFC First Bank, Oil India, Nuvoco Vistas, and Nippon India Life AMC. Whereas the shares of Adani Power, GlaxoSmithKline, Page Industries, Rajesh Exports, and Hindustan Aeronautics were pulling down the index. 

BSE Smallcap was at 28,255.84, up by 0.69%. The top gainers of this index were SVP Global Textiles, TV Today Network, Tejas Networks, Greaves Cotton, and Bharat Bijlee.

On the BSE, 1916 shares have advanced, 930 shares have declined and 134 are unchanged. Also, 145 stocks have hit their upper circuit and 80 stocks have hit their lower circuit.

The top trending stocks on BSE, this morning are Jyothy Labs, Elgi Equipments, Adani Green Energy, Sanofi, Laxmi Machine Works, and Great Eastern Shipping Company. 

On the sectoral front, only BSE Telecom, BSE Realty, and BSE Private banks were the only indices exhibiting bullish trends in the morning.