Equity market opens on negative note; Sensex slides 225 points

The Bombay Stock Exchange (BSE) building in Mumbai. File
| Photo Credit: Reuters

Benchmark equity indices Sensex and Nifty declined in early trade on February 15 amid mixed trends in global markets as investors remained cautious awaiting cues on the interest rate trajectory in the U.S.

BSE Sensex slumped 225.95 points or 0.37% to 60,806.31 points while NSE Nifty dropped 54.50 points to 17,875.35 points.

Except for eight stocks, including Reliance Industries, State Bank of India and Maruti, rest of the 22 shares in the Sensex pack were trading in the negative territory.

The negative opening for the domestic market comes a day after the 30-share Sensex surged 600.42 points or 0.99% to close at 61,032.26 points on Tuesday.

The broader NSE Nifty too had jumped 158.95 points or 0.89% to finish at 17,929.85 points.

On Wednesday, Asian stocks, including in Japan, China and Hong Kong, were trading in the red. On Tuesday, European and U.S. markets closed on a mixed note.

Deepak Jasani, Head of Retail Research at HDFC securities, said Asian stocks and U.S. equity futures fell on Wednesday as investors weighed hot American inflation data and mixed commentary from Central bankers on the outlook for interest rates.

In the U.S., the January consumer-price index showed the cost of living rising 6.4% year-over-year, down from 6.5% in December but higher than the Wall Street forecast of 6.2%.

Foreign Portfolio Investors were net buyers, acquiring shares worth ₹1,305.30 crore on Tuesday.