Benchmark stock market indices opened lower on Thursday due to increased volatility on F&O expiry day. Uncertainty over ongoing US debt ceiling talks has also kept investors on the edge.
The S&P BSE Sensex was down 133.99 points at 61,639.79 at 9:35 am, while the NSE Nifty 50 was down 36.45 points at 18,248.95. Broader market indices were also trading in line with the benchmark stock market indices.
Most of the sectoral indices were trading in negative territory except Nifty FMCG and Nifty Realty, which were up 0.46 per cent and 0.38 per cent, respectively.
Among the top five gainers on the Nifty 50 were Britannia Industries, Bajaj-Auto, ITC, Nestle India and Kotak Mahindra Bank. On the other hand, the top losers were Tata Motors, Hindalco, SBI, Wipro, M&M and IndusInd Bank.
Domestic stock markets have seen a correction since yesterday’s trading session after a three day gaining streak, triggered by profit booking by investors.
While stock markets have declined over the past two days, analysts believe that the fundamentals remain strong and any dip offers a good opportunity to enter.
But analysts also have a word of caution for investors, given the ongoing concern over US debt ceiling talks, which have remained inconclusive so far. Volatility in the market has also increased due to the F&O expiry today.
