Clumsy Thursday! Markets appear in red; Nifty below 16,500 points

2 Jun 2022 , 09:33 AM

Indian Markets stutter as broader indices open in red territory. Sectoral indices Nifty FMCG, Bank, and Financial Services opened with a 1% downside.

During opening bells, Sensex was trading 0.29% or 161 points lower at 55,220.16. Nifty was trading at 16,462.90 points, down by 59.85 points or 0.36%.

At around 9.39 AM, BSE Sensex was trading at 55,351.94 points or 29.23 points or 0.053% lower. NSE Nifty was trading 36.15 points or 0.22% lower at 16,486.60 points.

TCS (+0.94%) emerged as the top gainer with a 1% jump, followed by Reliance (+0.93%). Tata Steel (+0.57%), Infosys (+0.49%), and Cipla (+0.49%) joined the rally with marginal gains.

Hero MotoCorp (-2.53%) emerged as the top laggard with about 3% downside. ONGC (-2.30%), and Apollo Hospitals (-2.00%) shed nearly 2% in early morning trade. SBI Life (-1.60%) and Tata Consumer (-1.47%) further dragged down the chart.

On the sectoral front, Nifty FMCG (-0.98%), Bank (-0.50%), and Financial Services (-0.76%) dipped nearly 1%. Nifty IT (+0.46%), Media (+0.20%), and Metal (+0.04%) put some weight on the chart with marginal gains.

Global cues reflected dismayed investor cues as the US markets ended the day on a dim note. Dow Jones was trading 176.89 points or 0.54% lower at 32,813.23 points.

Asian Markets hinted at negative global cues as all indices mark position in red territory. Hang Seng (-1.53%) put pressure on the chart with about a 2% decline. Nikkei (-0.14%), and Taiwan TSEC (-0.50%) were trading marginally lower. Shanghai SE (+0.11%) was trading with marginal upside.