Indian stock markets open slightly lower on Monday

Mumbai (Maharashtra) (India), August 12 (ANI): Indian markets started the session on Monday on a marginally lower note with both indices posting a decline in the opening session.

The Nifty 50 index opened at 24,320.05, down 47.45 points or 0.19 per cent, while the BSE Sensex index opened at 79,296.67, down 409.24 points or 0.69 per cent.

In the broad market indices at the National Stock Exchange, all indices including Nifty Next 50, Nifty 100 and Nifty 200 posted marginal declines in opening. NSE’s volatility index, India VIX, rose sharply during the opening session.

“Global and domestic factors are likely to impact the market this week. Globally, equity markets will be closely watching the US consumer data and core CPI which will indicate the strength/weakness of the US economy. Domestically, we have the Hindenburg report and its likely implications. This ‘revelation’ seems unlikely to impact the market much,” said VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

In sectoral indices, except Nifty Consumer Durables, all other indices faced selling pressure and opened in red. In financial announcements, Vodafone Idea, NMDC, Happiest Minds, Orchid Pharma and National Aluminium Company, among others, are among the major names that reported their first quarter results today.

In the Nifty 50, top gainers in the opening session were Britannia, ONGC, Grasim, Tech Mahindra and Asian Paints, while top losers were Adani Enterprises, Adani Ports, NTPC, Power Grid and State Bank of India.

In global markets, the SP 500 index rose 0.47 per cent to 4,464.05 and the Nasdaq Composite rose 0.51 per cent to 13,644.85. Asian markets were mixed, with Japan’s Nikkei 225 gaining 0.26 per cent and China’s Shanghai Composite falling 0.27 per cent. (ANI)