Stock Market Updates: The Indian stock market opened on a subdued note today, with the Sensex trading down 190 points at 77,266, while the Nifty slipped below the crucial 23,500 mark, currently at 23,440 in early trade around 9.30 am.
Benchmark indices were trading higher in the pre-opening session.
The Sensex was up 283 points or 0.37 percent at 77,864 and the Nifty was up 70.9 points or 0.3 percent at 23,603.60.
Stock market last week
The benchmark Sensex fell 110 points in trade on Thursday, marking the third straight session of losses, amid continued selling by FIIs, disappointing quarterly results and rising inflation.
Equity markets were closed on Friday on the occasion of Guru Nanak Jayanti.
The 30-share Sensex settled down 110.64 points, or 0.14 per cent, at 77,580.31. The index opened on a positive note but later lost momentum due to rising selling. During the day, it was down 266.14 points, or 0.34 percent, at 77,424.81.
The broader NSE Nifty closed down 26.35 points, or 0.11 percent, at 23,532.70, extending its losing streak to a sixth day.
Among the 30-share Sensex pack, Hindustan Unilever, NTPC, Nestlé, IndusInd Bank, Power Grid, Adani Ports, Tata Motors and Bajaj Finserv were the mainstays.
Shares of Reliance Industries, Kotak Mahindra Bank, Tech Mahindra, Mahindra & Mahindra and HDFC Bank rose.
Foreign Institutional Investors (FIIs) on Wednesday invested Rs. 2,502.58 crore of equity sold, while domestic institutional investors (DIIs), according to exchange data, sold Rs. 6,145.24 crore worth of shares were bought.
Wholesale price inflation rose to a four-month high of 2.36 percent in October as prices of food items, especially vegetables, and manufactured goods became more expensive, government data released on Thursday showed.
Retail inflation breached the Reserve Bank’s upper tolerance level, hitting a 14-month high of 6.21 percent in October, mainly due to rising food prices.
The BSE smallcap gauge gained 0.83 percent and the midcap index rose 0.41 percent.
Among the sectoral indices, utilities fell by 0.88 percent, oil and gas (0.48 percent), power (0.37 percent), services (0.09 percent), metal (0.07 percent) and consumer durables (0.05 percent).
Realty gained 1.11 percent, BSE Consumer Discretionary (0.81 percent), Telecommunication (0.64 percent), Auto (0.60 percent) and Commodities (0.33 percent).
In Asian markets, Tokyo, Shanghai and Hong Kong settled lower while Seoul ended in positive territory.
European markets were bullish. US markets ended on a mixed note on Wednesday.
Global oil benchmark Brent crude fell 0.06 percent to USD 72.24 a barrel.
On Wednesday, the Sensex settled down 984.23 points, or 1.25 percent, at 77,690.95. The Nifty fell 324.40 points or 1.36 percent to 23,559.05 in its fifth day of decline.