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Stock market continues to slide; Sensex fell 200 points, Nifty reached below 24800
Among Sensex stocks, Tata Steel, Power Grid, JSW Steel, NTPC and Adani Ports opened with losses while HUL, ITC, TCS, Infosys, Asian Paints and HCL Tech showed gains.
Indian equity indices opened lower for the fourth consecutive session on Monday following weakness in Asian markets, as concerns about the US economy persisted after weaker-than-expected employment data.
Analysts also expect profit booking in local stocks, which were consistently trading near record highs. In early trade on Monday, the BSE Sensex was seen trading 249 points lower at 80,938. Nifty50 was seen trading 92 points lower at 24,759.
Among Sensex stocks, Tata Steel, Power Grid, JSW Steel, NTPC and Adani Ports opened with losses while HUL, ITC, TCS, Infosys, Asian Paints and HCL Tech gained. Sectorally, all sectoral indices opened with weakness except FMCI, IT and realty. Meanwhile, Nifty Metal and Nifty Oil & Gas declined by 1.05% and 0.83%, respectively.
