Sensex Opens 102 Points Lower Amid Weak Global Cues, IT & Auto Drag
Domestic benchmark indices opened unchanged despite poor overseas cues, as IT and auto stocks witnessed selling during the initial trade.
Sensex was down 102.31 points or 0.13 per cent at 77,504.12 at about 9.28 am, while the Nifty fell 25.25 points or 0.11 percent at 23,566.70.
Nifty Bank was higher by 209.20 points or 0.41 per cent at 51,785.05. Nifty Midcap 100 index was trading at 52,443.65 after gaining 604.25 points or 1.17 per cent. Nifty Smallcap 100 index stood at 16,335.60 after rising 215.75 points or 1.34 per cent.
Market analysts said that Nifty saw strong buying of 213 points from lower levels before going sideways, indicating sustainability in the up move.
The local benchmark indices opened flat on Friday on account of weak global cues, as selling was observed in the IT and auto sectors in the initial trade.
Sensex was at around 9.28 am trading 102.31 points or 0.13 per cent lower at 77,504.12 while the Nifty was down 25.25 points or 0.11 per cent at 23,566.70.
Nifty Bank rose 209.20 points or 0.41 per cent to 51,785.05. The Nifty Midcap 100 index traded at 52,443.65 after gaining 604.25 points or 1.17 per cent. Nifty Smallcap 100 index was at 16,335.60 after rising 215.75 points or 1.34 per cent.
Market observers say Nifty saw a sharp buying of 213 points from lower levels before going sideways, indicating sustainability in the trend.
