Mumbai, May 20: The Indian stock market opened in the red on Wednesday due to weak global signals. At 9:24 AM, the Sensex was down by 541 points, or 0.72%, at 74,726, while the Nifty fell by 155 points, or 0.66%, to 23,462.
The decline in early trading was led by real estate and banking stocks. The Nifty Realty and Nifty PSU Bank indices were among the biggest losers. Other sectors, including Nifty Auto, Nifty PSE, Nifty FMCG, Nifty India Defense, Nifty Private Bank, and Nifty Commodities, also showed losses. However, Nifty Pharma, Nifty Healthcare, and Nifty IT managed to stay in the green.
Selling pressure was evident across large-cap, mid-cap, and small-cap stocks. The Nifty Midcap 100 index fell by 285 points, or 0.47%, to 60,736, while the Nifty Smallcap 100 index dropped by 126 points, or 0.70%, to 17,738.
This trend indicates that the decline is widespread across the market.
In the Sensex pack, Sun Pharma, TCS, Infosys, and Tech Mahindra were among the gainers. Conversely, Tata Steel, BEL, M&M, Maruti Suzuki, Eternal, UltraTech Cement, HUL, SBI, NTPC, Bajaj Finance, Indigo, Asian Paints, ITC, and Kotak Mahindra Bank were among the losers.
Most Asian markets were also trading lower, with Tokyo, Shanghai, Hong Kong, Seoul, and Jakarta in the red. The US stock market had also closed down on Tuesday.
Crude oil prices saw a decline as well, with WTI crude down by 0.58% at $103 per barrel and Brent crude falling by 0.63% to $110 per barrel.
Foreign Institutional Investors (FIIs) were net sellers during Tuesday’s session, offloading equities worth ₹2,457.49 crore. In contrast, Domestic Institutional Investors (DIIs) invested ₹3,801.68 crore in the domestic equity market.
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My name is Bhupendra Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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