Equity benchmark indices opened lower on Wednesday tracking weak global cues. The sentiment was also impacted after the IMF cut India’s growth forecast by 20bps to 7.3% for the current financial year.
On the sectoral front, auto, Bank Nifty, and financials were trading lower marginally, while Nifty Realty index rose 1%, followed by metal, media, FMCG and banking stocks.
Shares of Hindalco were down 1% after there was an incident in the red mud (bauxite residue) storage area connected to the alumina plant situated at Muri, Jharkhand, on April 09, 2019.
Shares of HDFC Bank dropped 1% in the morning trade on the NSE after a media report said that an undisclosed entity is likely to sell 1.1cr shares or 0.42% equity in the stock via block deal in a range of Rs2,219-2,287 per share.
The Sensex dropped 45 points at 38,896, while the Nifty was at 11,666, down 6 points. The market breadth was negative on the NSE with 882 shares advancing, 624 shares declining, and 562 remaining unchanged.
The Indian rupee opened flat at 69.28 per dollar vs. the previous close of 69.29/$.
Cipla, Indiabulls HF, Coal India, and ONGC were among top gainers, while TCS, HDFC, Hero MotoCorp, and Hindalco are the top losers on the NSE.
The Volatility gauge, India VIX up 1.87% at 20.66.
The most active stocks on the NSE are HDFC Bank, Indiabulls HF, ICICI Bank, and Yes Bank.
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