Indian equity market opened lower on Thursday, following a slide in global equities as investors moved with caution at the year-end, ahead of the December derivatives series expiry.
BSE Sensex was trading 378 points or 0.62% lower at 60,532. Nifty50 was at 18,041, down 81 points or 0.45% at around 9.45 am in the penultimate session of 2022.
In the Sensex pack,
, , , and were the top losers, falling 0.5-1%. , , L&T, , also opened with cuts. On the other hand, only , and opened with gains.
“Volatility is likely to be the hallmark for the day as traders roll over December F&O contracts to January,” Prashanth Tapse – Senior VP (Research), Mehta Equities said.
Sectorally, Nifty PSU Bank declined 0.90% and Nifty Metal dropped 0.88%. Nifty Auto and Nifty Financial Services also opened lower. Whereas, in the broader market, Nifty Midcap50 fell 0.90% and Smallcap50 0.76%.
Wall Street’s main indices ended lower on Wednesday with the Nasdaq hitting a 2022 closing low after investors assessed the U.S. Federal Reserve’s rate hike path on mixed economic data released earlier in the week and concerns over a surge in COVID-19 cases in China.
Dow Jones Industrial Average dropped 1.10%, S&P 500 fell 1.20% and Nasdaq Composite declined 1.35%.
Asian markets are trading in the red today following overnight losses in US stocks. Japan’s Nikkei 225 fell 1.37%, South Korea’s Kospi dropped 1.67% and China’s Shanghai Composite declined 0.31%.
Indian rupee rose 3 paise to 82.77 against the US dollar in early trade today. Meanwhile, the dollar index, which tracks the movement of the greenback against a basket of six major world currencies, declined 0.10% to 104.35 level.
Brent crude March futures fell 0.38% to $83.67 a barrel, while US West Texas Intermediate (WTI) crude futures declined 0.37% to $78.67 a barrel.
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