Share Market Opening Bell! Sensex in red, Nifty in green – Metal stocks gain most

The Indian market started first day of the September series on a mixed note, as Nifty opened around 16,640, while Sensex near 55,900. The BSE Sensex marginally slipped over 66 points or 0.12 per cent to 55882.7, while Nifty50 gained marginally by 5.7 points or 0.03 per cent to 16642 at the open.

In the broader markets, the mid-cap index outperformed benchmarks and soared by 90 points or 0.33 per cent to 27505.8 at open on Friday. While dragging the Nifty Index most, Nifty Bank opened over 57 points or 0.16 per cent weaker to 35559.8 levels, led by IndusInd Bank.    

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Of 50 scrips on Nifty50, 32 advanced, 10 declined minutes after the market open today. Bajaj Finserv gained most at the open by 0.76 per cent, followed by UPL, Hindalco, L&T and BPCL each gaining between 0.5-0.8 per cent. 

On the contrary, Mahindra and Mahindra slumped most by around 2 per cent, followed by HDFC, IndusInd Bank, Tata Motors, Eicher Motors, ICICI Bank and Infosys joined the declining party at the market open on the last day of trading session this week.

Sectoral indices on Friday were almost equally divided into positive and negative, as 6 sectors declined, and 5 gained in the early morning trade. Metal stocks were strong at open today by over 1 per cent, while banking and financials dragged the market most. 

On the global front, the US Markets on Thursday ended in the red amid the Kabul bombing and Federal Reserve Jackson Hole meet see profit booking. Dow ended lower 180 points. Similarly, Asian markets on Friday opened mixed with the Japanese 'Nikkei' trading lower by 120 points.

Another important trigger to domestic markets, Foreign Institutional Investors (FIIs) on Thursday sold shares worth Rs 1974.48 crore in cash and bought Rs 1055.21 crore in index futures.

The Nifty on Thursday ended flat but with positive bias after a volatile session amid the derivative contracts expiry. FMCG and financial services led the market while Airtel saw selling pressure.