The benchmark indices, Sensex and Nifty, both registered a downward opening in the red as the stock market began its trading day on a bearish note.
The Sensex opened 141.00 points down, commencing the day at 63,809.35. Similarly, the Nifty started with a decline of 13.40 points, opening at 19,070.30. Within the Nifty index, there were 37 advances, 12 declines, and 1 remained unchanged, depicting a mixed start to the day.
Among the Nifty companies, Bajaj Auto, LT, Dr Reddy, Cipla, and SBI Life were the notable gainers at the market opening. In contrast, Bharti Airtel, HDFC Bank, Axis Bank, Hindalco, and JSW Steel faced declines, marking them as the top losers early in the trading session.
“Asian markets soared up to 2 per cent (Japan Index) and US markets advance over 0.5 per cent ahead of the Federal Reserve’s interest rate decision to be released today (India impact tomorrow), and Bank of Japan kept interest rates unchanged on Tuesday,” stated Varun Aggarwal, founder and managing director of Profit Idea. Following the release of positive quarterly results, the US Vix experienced a significant 10% decline to 18 level, and in October, US consumer confidence fell to a five-month low. The early market sentiment was significantly shaped by the dynamics of the global market. Asian markets saw significant increases, with the Japan Index rising to 2%.