Nifty opens down by 60 points, Sensex down by nearly 150 points
At 9:15 AM, the BSE Sensex opened down by 144 points at 29341, while the Nifty50 opened down by 63 points at 9055 mark.
Hero MotoCorp is the top Nifty gainer and Idea is the top Nifty loser in the morning hours. Here MotoCorp is trading at Rs 3319 per share down by 0.4% whereas Idea is trading at Rs 90 per share, down by 3.2%.
There are 346 advances, 1008 declines and 448 unchanged stocks on NSE reflecting some negative bias floating in the market.
Nifty50 index has to surpass its immediate hurdle in the range of 9,160-9,170 to witness a fresh upmove up to the level of 9,220. On the downside, the zone of 9,060-9,075 is likely to act as a strong support zone.
The rupee opened at 65.56 per dollar lower by 25 paise.
The US stock indices sank on Tuesday as the Dow and the Nasdaq logged their worst daily drops since September, while the S&P 500 index closed lower more than 1% for the first time since October 11. The Dow Jones Industrial Average dropped 238 points to close at 20,688 and the Nasdaq fell 108 point to finish at 5,794.
Asian stocks declined on Wednesday tracking sharp correction on Wall Street. Japan’s Nikkei 225 has slipped 2% followed by Hong Kong’s Hang Seng which is trading lower by 250 points and the Shanghai Composite has slid 7 points