New Delhi: Equity markets opened lower on Friday tracking weakness in the global markets. As of 9:18 am, the Sensex was down 367 points or 0.72% at 50,479 while the NSE benchmark Nifty50 index traded 100.65 points or 0.67% lower at 14,980.40. Except for midcap and energy shares, most other sectors witnessed selling pressure.
Among Nifty stocks, IndusInd Bank was the top loser, down 2.37% followed by ICICI Bank and Axis Bank, which fell 1.90% and 1.42% respectively. Wipro, SBI, Hindalco, JSW Steel, HDFC Bank, Shree Cements, Asian Paints, Bajaj Finance, Bajaj Auto, Power Grid Corp were the other prominent losers in the Nifty.
ONGC was the top gainer in the Nifty, up 4.30% followed by Gail and IOC, which gained 3.18% and 1.49%. NTPC, BPCL, Maruti Suzuki, Adani Ports, HCL Tech, M&M, Tech Mahindra, Reliance Industries, Coal India, Titan Company, Eicher Motors were the other gainers in the Nifty. Smallcap shares outperformed benchmark indices. The BSE Smallcap index was up 0.41%.
On Thursday, the Sensex fell 598.57 points or 1.16% to close at 50,846.08, and the Nifty fell 164.80 points or 1.08% to close at 15,080.80. Foreign portfolio investors sold Indian equities worth Rs 223 crore in the cash segment on a provisional basis and were net buyers to the tune of Rs 9,198 crore in the futures & options segment. They decreased their net long positions in index futures to 56% vs 59% on the previous day. That’s below the March average of 62%. Domestic institutions sold Indian equities worth Rs 788 crore in the cash market.