Mon. Nov 28th, 2022

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Sensex, Nifty open lower; Banks, telecom stocks in focus

2 min read

Bharti Airtel down 0.3%, Vodafone Idea up 0.7% ahead of AGR hearing

The Supreme Court will hear the adjusted gross revenue (AGR) matter today. The apex court had earlier asked telecom operators to file affidavits regarding the roadmap to clear the dues.

Market opening

Indian benchmark equity indices opened lower on Thursday tracking weak cues from global peers. Sensex dropped 136 points to open at 33,371.52, while Nifty opened 14 points lower at 9,863.25.

Market pre-opening

Indian stocks were in the red in the pre-opening session on Thursday. At 9:06 am, Sensex was 110 points or 0.33% down at 33,397. Nifty fell 13 points or 0.13% to 9,868.

Oil prices fall

U.S. West Texas Intermediate (WTI) crude futures dropped 2.1%, or 80 cents, to $37.16 a barrel at 0138 GMT, adding to a loss of 42 cents.

Brent crude futures fell 1.5%, or 61 cents, to $40.10 a barrel. The benchmark contract declined 25 cents.

Market at close on Wednesday

Indian benchmark equity indices closed in the red in a volatile trading session on Wednesday as investors weighed the consequences of Indo-China border conflict.

After swinging between gain of as much as 1% and losses of as much as 0.8%, Sensex settled 97 points or 0.3% lower at 33,507. Nifty closed 36 points or 0.4% lower at 9,877.

Asian stocks set to fall

Asian stocks were set to dip on Thursday after a choppy Wall Street session as spiking coronavirus cases and prospects of new lockdowns erased earlier confidence about a global economic recovery.

Australia ASX All Ordinaries fell 1.55%

China’s Shanghai SE Composite Index slipped 0.16%

Hong Kong’s Hang Seng retreated 0.91%

Singapore’s SGX Nifty dropped 0.7% indicating a weak opening for Indian stock markets.

Wall Street update

The S&P 500 closed lower on Wednesday as news of spiking pandemic data and the prospect of a new round of economic lockdowns dampened investor optimism over signs of economic recovery.

The S&P 500 and the Dow reversed earlier gains to snap a three-day winning streak. Tech shares led the Nasdaq to a modest gain.

The Dow Jones Industrial Average fell 170.37 points, or 0.65%, to 26,119.61, the S&P 500 lost 11.25 points, or 0.36%, to 3,113.49 and the Nasdaq Composite added 14.67 points, or 0.15%, to 9,910.53.

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