Share Market Opening Bell! Sensex below 59000-mark, Nifty down by 86 points; banking and financials shares drag

Amid weak global cues and selling pressure from foreign investors, the Indian market on Friday continues to open negative on the first day of the October series. The benchmarks such as Sensex open below 59000-level 250 points and Nifty below 17550-mark, led by banking and financial stocks.  

The BSE Sensex declined by 236 points or 0.4 per cent to 58889 and Nifty50 slipped by 86.3 points or 0.49 per cent to 17,531.9 on Friday at the market open. While in the broader markets, Mid-cap Index too opened in the red, down by 69 points or 0.12 per cent to 30314 levels today at the market open.    

See Zee Business Live TV Streaming Below:

Of 50 scrips on Nifty50, 12 advanced, 38 declined minutes after the market open today. Maruti Suzuki declined most at the market open, down over 1.6 per cent, followed by ICICI Bank and Tata Steel each down by over 1 per cent, similarly, Hindalco and SBI slipped around 1 per cent.

In otherwise negative market, IOC, ONGC, Divis Lab, Coal India and UltraTech Cement each gained by around 1 per cent, wherein first two are the top gainers in the early morning trade today.

Almost all Nifty indices declined, except for Nifty Pharma, up 0.34 per cent. Banking and financial socks along with auto slumped most by around 1 per cent in the early morning trade. Similarly, Nifty media and realty too aided for the fall of mid and small cap indices at the market open today.

Globally, the US markets on Thursday ended September with the worst month since October 2020 as Dow Jones closed lower by 550 points while Nasdaq closed down 60 points. While Asian markets on Friday opened in the red with Japan’s 'Nikkei' traded lower by over 450 points in the morning today. 

Foreign Institutional Investors (FIIs), one of the important triggers to the domestic markets, sold shares worth Rs 2225.6 crore in cash market and bought Rs 97.18 crore in index futures on Thursday.