FIRST TRADE: Indices open lower; Sensex down 200 pts; Nifty tests 19,300

Stock market today: The Indian equity benchmark indices opened lower on Friday, August 18, amid weak global clues. Globally, the US markets slid on inflationary concerns, and there was choppiness in the Asian markets due to demand concerns in China. Selling was seen in financial services, FMCG, and IT stocks.

Both indices opened over 0.40 per cent lower. Last seen, the S&P BSE Sensex was down 149.28 points, or 0.23 per cent at 65,001.74, and the NSE Nifty was down 48.25 points, or 0.25 per cent at 19,317.05.

In the broader market, the Nifty Mid Cap 100 and Small Cap 100 traded in the green. 

On the sectoral front, Bank Nifty traded flat. The index opened at 43,724.75. Nifty IT saw selling pressure in the morning deals. 

BUZZING STOCKS 

ONGC was down nearly 1 per cent after the company announced it was investing Rs 1 lakh crore by the end of this decade in low-carbon energy opportunities, including renewables and green hydrogen.

Godrej Properties stock was down over 1 per cent after its net debt jumped 45 per cent during the April-June quarter.

Jain Irrigation stock was down over 2 per cent after the company announced its plan to raise around Rs 200 crore through preferential allotment of equity share warrants.

On the other hand, Yatharth Hospital shares zoomed over 7 per cent after it posted a 73.11 per cent jump in its consolidated profit after tax. 

South Indian Bank was up over 8 per cent after RBI approved the appointment of PR Seshadri as MD & CEO. 

NLC India shares were up over 3 per cent as the company entered into a long-term power usage agreement with Rajasthan Urja Vikas Nigam Ltd.

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