FIRST TRADE: Sensex, Nifty inch lower; Infosys, TechM, Wipro lead losses in IT basket

Opening bell: The equities started on a flat note on May 17, amid largely negative moves across global markets. In the opening deals, the S&P BSE Sensex was quoting at 61,887.45, down 45.02 points, or 0.07 per cent while the NSE's Nifty was trading at 18,267.75, down 18.75 points, or 0.1 per cent. 

As many as 23 stocks were advancing and 26 were declining on Nifty50 in the early morning trade. The information and Technology and Metal stocks dragged the market as top blue-chip companies Infosys, Tech Mahindra, HUL and Wipro were among the top laggards. On the contrary, BPCL gained the most, followed by Tata Motors, Bajaj Auto and Maruti Suzuki India were among the top gainers.

In the broader market, sectoral indices Nifty IT dipped nearly a per cent, followed by Nifty Bank down by 0.02 per cent in the early morning session on Wednesday. If the index advances, 18,350 would be the initial key resistance level to watch out for, followed by 18,400 and 18,450, Deven Mehata, Equity Research Analyst, Choice Broking said in its comment.

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