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Equity benchmark indices opened lower on Wednesday tracking weak global cues. On the sectoral front, heavy selling pressure was seen in the IT sector, while auto, oil and gas, consumer durables, and healthcare rose in opening trade.
Wipro, Infibeam Avenues, Tech Mahindra, HCL Tech, and NIIT Technologies lost up to 3% in trade.
Banks and currency markets are shut today on account of Id-e-Milad.
The Sensex is down 176 points or 0.5% at 35,298, and the Nifty50 is down 36 points or 0.34% at 10,620. The market breadth is narrow as 802 shares advanced, while 732 shares declined, and 515 shares remained unchanged.
Aviation, paints, and tyre companies are trading higher on the back of drop in crude oil prices.
Shares of Dr. Reddy’s zoomed 7% after the US Court of Appeals lifted a temporary ban on the company’s generic Suboxone film. Read more
Dr.Reddy’s, HPCL, BPCL, IOC and Yes Bank were the top gainers, while Infosys, Tech Mahindra, HCL Tech, TCS, and Wipro were among top losers on the Nifty50 index.
Volatility index India VIX is up 0.78% to 19.48.
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