Mumbai: The Indian stock market opened lower on Monday as selling was seen in the auto, IT, PSU bank, financial service, FMCG, media, energy and metal sectors on Nifty in early trade.
At around 9:30 am, Sensex was trading at 78,523.25 after declining 175.82 points or 0.22 per cent, while the Nifty was trading at 23,758.20 after declining 55.20 points or 0.23 per cent.
The market trend remained negative. On the National Stock Exchange (NSE), 815 stocks were trading in green, while 1,454 stocks were in red.
According to experts, “as investors leave 2024 behind and look forward to the New Year, there will be more concerns than confidence, at least in the early days of 2025.”
“The biggest concern for stock markets, globally, is uncertainty surrounding Trump 2.0. The concern is that since market valuations are high any negative news might cause corrections,” they added.
Nifty Bank was down 74.80 points or 0.15 per cent at 51,236.50. Nifty Midcap 100 index was trading at 56,796.90 after dropping 182.90 points or 0.32 per cent. Nifty Smallcap 100 index was at 18,673.75 after dropping 82.10 points or 0.44 per cent.
On the sectoral front, buying was seen in the Pharma and Healthcare sector.
In the Sensex pack, Tata Steel, M&M, HCL Tech, Tech Mahindra, Maruti Suzuki, Bajaj Finserv, Titan, Kotak Mahindra Bank and Reliance were the top losers. Adani Ports, Bharti Airtel, ITC, Zomato, Nestle India, ICICI Bank, NTPC and UltraTech Cement were the top gainers.
The Dow Jones declined 0.77 per cent to close at 42,992.21. The S&P 500 declined 1.11 per cent to 5,970.84 and the Nasdaq declined 1.49 per cent to close at 19,722.03 in the previous trading session on Friday.
In the Asian markets, Bangkok and Seoul were trading in green while China, Japan, Jakarta and Hong Kong were trading in red.
Foreign institutional investors (FIIs) sold equities worth Rs 1,323.29 crore on December 27, while domestic institutional investors bought equities worth Rs 2,544.64 crore on the same day.
(IANS)
