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Opening Bell – Nifty opens below 10K mark; Dr Reddy’s top loser

Opening Bell – Nifty opens below 10K mark; Dr Reddy’s top loser

At 9:15 AM, the S&P BSE Sensex opened marginally lower by 2 points at 32381, while the Nifty50 opened lower by 23 points at 9996 mark.

Bank Nifty has opened at 24744 level, down by 178 points. ITC was the top Sensex gainer trading at Rs 293 per share, up by 1.52% whereas Dr Reddy’s was the top Sensex loser trading at Rs 2505 per share, down by 4.44%.

On the broader markets, BSE Mid-cap index was trading at 15221 level, down by 0.23% and BSE Small-cap index was trading at 15980 level, up by 0.22%.

There were 531 advances, 902 declines and 477 unchanged stocks on NSE reflecting bears dominating bulls in morning hours.

Nifty50 has support placed in the region of 9,920-9,930, and if this support is breached, the next support is seen at levels of 9,880 and 9,840. On the way up, the level of 10,100-10,120 will act as a key resistance zone for the Nifty50.

The rupee has opened at 64.19 per US Dollar lower by 8 paise at its one-month high level.

The US stocks ended on a mixed note on Thursday, with the Nasdaq and S&P 500 pulling back into negative territory, while the Dow Jones Industrial Average ending at a record close. The Dow ended at 21,797, higher by 86 points. The Nasdaq Composite Index closed, down by 41 points at 6,382. The S&P 500 edged down 2 points to 2,475.

Asian stocks are trading in a negative terrain in early trade on Thursday. Japan’s Nikkei 225 has slipped 98 points. Hong Kong’s Hang Seng has shed 113 points and China’s Shanghai Composite has lost 7 points.