Opening Bell: Markets Trade In Red Amid Negative Global Cues; Sensex Below 63,800, Nifty At 19,027.30

Opening Bell: Markets Trade In Red Amid Negative Global Cues; Sensex Below 63,800, Nifty At 19,027.30

IndusInd Bank and Axis Bank were the top gainers in the morning session whereas Tech Mahindra, Wipro, Infosys, SBI and Bajaj Finserv were amongst the losers.

FPJ Web DeskUpdated: Thursday, October 26, 2023, 09:19 AM IST
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Opening Bell: Markets Trade In Red Amid Negative Global Cues; Sensex Below 63,800, Nifty At 19,027.30 | Representative Image

The markets opened in red on Thursday with Sensex at 63,774.16, down by 274.90 points and Nifty was at 19,027.30 with a fall of 94.90 points. IndusInd Bank and Axis Bank were the top gainers in the morning session whereas Tech Mahindra, Wipro, Infosys, SBI and Bajaj Finserv were amongst the losers.

Nifty Bank in the morning session was at 42,659.65, down by 172.35 or 0.40 per cent.

Asian Paints, Westlife Foodworld, ACC, Tata Teleservices (Maharashtra), Punjab National Bank, Shriram Finance, Aditya Birla Sun Life AMC, NLC India, Colgate-Palmolive, Medplus Health Services, DB Corp, Max India, Vodafone Idea and Indian Bank to announce earnings for the second quarter of this financial year today.

Markets on Wednesday

The markets closed lower on Wednesday for the fifth consecutive session after a positive start in the morning. Sensex ended the day at 64,046.26 down by 525.62 points and Nifty fell 155.20 points at 19,126.60.

In the Wednesday session Nifty went down below 19,100 to touch the day's low of 19,074.15.

The Nifty Bank was also down 296 points or 0.69 per cent to 42,854 and turned negative for the first time this year. Nifty Midcap 100 saw a drop of 0.60 per cent at 38,584.70.

Global markets

US markets closed lower on Wednesday, pulled down by Google as it reported disappointing earnings. The Dow Jones Industrial average lost 105.45 points to end the day at 33,035.93, the S&P 500 dropped 60.91 points at 4,186.77 and the Nasdaq Composite fell 318.65 points at 12,821.22.

While Nasdaq Composite fell to its biggest single-session percentage drop since February 2021, the S&P 500 index saw its fifth day of decline in the last six sessions to close below 4,200 levels.

The Asian stock markets were trading lower on Thursday with Japan's Nikkei 225 shedding 596.51 points at 30,673.41, Hong Kong's Hang Seng fell 2.36 points at 17,082.97, South Korea's KOSPI was down at 2,319.17 with a loss of 44 points and Gift Nifty dropped 25.50 points at 19,054.

Oil prices

Oil prices were close to flat on Thursday as investors continue to watch the tensions in Middle East while at the same time digesting the rise in US crude stockpile. Brent crude futures for November fell 3 cents to $90.10 per barrel and US West Texas Intermediate was at $85.36 per barrel with a loss of 3 cents.

Rupee

The Indian rupee opened flat on Thursday morning at 83.19 per dollar against Wednesday's close of 83.18.

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