FIRST TRADE: Sensex down over 200 pts, Nifty slips below 19,500; HCL Tech jumps 4.5%

Stock market today: The domestic benchmark indices opened lower on Friday, August 11, amid selling in pharma, metals, banks, and FMCG stocks. The inflation data released by the US came in milder than expected but raised concerns about the US economy's long-term prospects. S&P BSE Sensex was down 200 points, and NSE Nifty was down over 70 points.

Among the Sensex stocks, NTPC, Kotak Mahindra Bank, JSW Steel, HUL IndusInd Bank, and Sun Pharma were the top laggards, trading between 1.15 per cent and 0.98 per cent. HCL Tech, Power Grid, Wipro, Titan, and Tata Motors were the top gainers, trading between 3.84 per cent and 0.37 per cent.

On the other hand, in the broader market, Nifty Mid Cap 100 and Small Cap 100 edged higher.

On the sectoral front, Bank Nifty also opened in the red at 44,568.15.

BUZZING STOCKS 

Biocon was down over 1 per cent in the opening after reporting weak Q1 results. 

Bank stocks traded lower, Kotak Mahindra Bank, ICICI Bank, and IndusInd Bank were the top losers on the index, each nearly 1 per cent down.

CONCOR was down over 2 per cent after posting a decline in net profit for the June quarter. 

Mazagon Dock was down over 2 per cent after posting mixed Q1 results.

Conversely, HCL Tech stock climbed over 3 per cent on the back of a strategic partnership with Verizon Business and signing a deal with Global 100 Corporation.

Power Grid opened over 1 per cent higher.

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