Sensex, Nifty open negative as polling for Lok Sabha election enters last phase

Indian fairness benchmarks opened in purple on Wednesday following negative international cues from Asian friends and home political scenario owing to the last stage of polling for Lok Sabha election nearing.

Sensex was down 414 factors or 0.56 per cent, at 74,757 and Nifty was at 22,765, down 122 factors or 0.53 per cent within the morning session.

Midcap and smallcap shares are performing higher in comparison with largecap. The Nifty midcap 100 index is down 56 factors or 0.11 per cent, at 52,237 and the Nifty smallcap 100 index is up 38 factors or 0.23 per cent, at 16,912 factors.

The total pattern in Nifty is blended. Out of the full shares, 1,020 are in inexperienced, whereas 1,095 stay in purple. Auto, Fin Service, FMCG, and IT are main losers among the many sector indices. However, Metal, PSU Bank, and Realty are main gainers.

Nine out of 30 Sensex shares are buying and selling within the inexperienced. Bharti Airtel, Tata Steel, SBI, Kotak Mahindra and ITC are the highest gainers. Whereas, M&M, Tech Mahindra, IndusInd Bank, HDFC Bank, Axis Bank and Asian Paints are the highest losers.

Tokyo, Hong Kong, Bangkok, Jakarta, and Seoul are buying and selling within the purple. Only Shanghai is buying and selling within the inexperienced. The US markets closed with a decline on Tuesday. Crude oil benchmark Brent crude is at $84 per barrel and WTI crude is at $80 per barrel.

Vaishali Parekh, Vice President-Technical Research, Prabhudas Lilladher Pvt. Ltd mentioned: “Nifty witnessed a risky session swinging between 22,850 and 23,000 ranges, with the general bias maintained cautiously optimistic. We want to look at and wait for additional developments to calm down.”

“As mentioned earlier, Nifty has the essential help of twenty-two,780 – 22,800 ranges, whereas on the higher aspect, it must breach the 23,100 zone decisively for the bias to show optimistic and set up some conviction,” she added.

(With inputs from IANS)