Markets today continued where they left off on Wednesday and dropped further in opening trade. Both Sensex and Nifty today opened in the red with the former trading at 30,024.55, down by over 355 points or 1.8 per cent. Nifty in opening trade was down by over 94 points or close to 1 per cent at 8,831.05. However, markets recovered at around 9:45 am from the initial losses and are now trading flat.

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The top performers on Sensex in the opening trade on Thursday were Ashoka Buildcon, JK Tyre & Industries, Eclerx Services, Apollo Tyres and Ceat Limited while  were the top losers ITI Limited, Hatsun Agro Product, Hexaware Technologies Limited, Balrampur Chini Mills and Gujarat State Petronet.

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Meanwhile, top performers on Nifty in Thursday trade were JK Tyre & Industries, Himadri Speciality Chemical, NOCIL, Grindwell Norton and Ceat Limited. Top losers on Nifty were United Phosphorus, Larsen & Toubro, Hindalco Industries, Power Grid Reliance Industries.

The rupee was trading at Rs 76.8275 up 0.14 per cent. 

On Wednesday, both the Sensex and Nifty ended the day in the red. Both FIIs and DIIs closely watching the Coronavirus impact in the US, the Indian indices traded tepid throughout the intra-day trade session despite a good opening show. The BSE Sensex went down 310 points and closed at 30,379 levels while the NSE Nifty index crashed 68 points and closed at 8,925 levels. Bank Nifty index dipped 430 points and closed at 19,057 levels.

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"Much depends upon the US market performance as the world economy has become a global village affair after WTO. Since, India is an integral part o the global economy, any weakness in the Wall Street indices can lead to crasah at Dalal Street also. Currently, Nifty has immediate support at 8,750 but it has strong support at 8,555. Till Nifty sustains above 8,555, any dip to this level should be seen as an opportunity to buy but one should keep booking profit after 6-7 per cent rise," Prakash Pandey, MD & CEO at Plutus Advisors had said, speaking on the current stock market scenario.