Indian equity markets are set for a sharply weak start on Thursday, with benchmark indices trading deep in the red during the pre-open session as global risk aversion and elevated crude oil prices weighed on sentiment.
The BSE Sensex rang the opening bell near 75,300, crashing more than 1,400 points, while the NSE Nifty50 opened trading around 23,350, taking a hit of a little over 400 points, as of 9:15 AM.
The negative opening follows a three-day recovery in the previous sessions, as investors turn cautious amid persistent geopolitical tensions and volatile energy prices. At around 9:07 AM in the pre-open session, the Sensex was at 75,504, down 1,199.19 points, while the Nifty50 stood at 23,197, lower by 580 points, signalling a gap-down opening for domestic equities.
On the Sensex, NTPC emerged as the solo winner, while the laggards included HDFC Bank, L&T, Axis Bank, Eternal, and M&M.
In the broader markets, the Nifty Bank led across a sea of red and tanked 2.88 per cent. Sectorally, the Realty and Private Bank indices dominated with losses of 3.36 per cent and 2.88 per cent respectively.
Markets Extend Winning Run On Wednesday
On Wednesday, benchmark indices ended nearly 1 per cent higher, extending their gains for the third consecutive session, supported by a slight easing in crude oil prices and firm global cues.
The 30-share Sensex advanced 633.29 points, or 0.83 per cent, to close at 76,704.13. During the session, it surged as much as 929.38 points, or 1.22 per cent, to hit an intra-day high of 77,000.22.
The NSE Nifty climbed 196.65 points, or 0.83 per cent, to settle at 23,777.80.
The rebound was broad-based, driven by a mix of short covering and value buying across sectors. Information technology, realty and auto stocks led the recovery, while midcap and smallcap stocks also witnessed strong buying interest.
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Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: abplive.com
