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Opening Bell: Market in the red, Nifty around 12,250; RIL, Yes Bank top losers

Updated : December 23, 2019 09:31 AM IST

Indian benchmark indices opened lower on Monday, snapping four-day gaining streak, dragged by banks and energy stocks.

At 9:17 am, the BSE Sensex was trading 80 points lower at 41,601 and the Nifty50 was trading 18 points lower at 12,253.

Vedanta, Hindalco, BPCL, JSW Steel, and UPL were the top gainers on the Nifty50 index, while Yes Bank, Reliance Industries, GAIL, Coal India, and Bharti Infratel led the losses.

Indian benchmark indices opened lower on Monday, snapping four-day gaining streak, dragged by banks and energy stocks. Meanwhile, Asian markets idled near 18-month highs on Monday as volumes weakened ahead of the Christmas holiday break and investors squared off their positions, taking home hefty gains made earlier this month.

At 9:17 am, the BSE Sensex was trading 80 points lower at 41,601 and the Nifty50 was trading 18 points lower at 12,253. Nifty Midcap and Nifty Smallcap indices outperformed benchmark indices and were up 0.15 percent each.

Vedanta, Hindalco, BPCL, JSW Steel, and UPL were the top gainers on the Nifty50 index, while Yes Bank, Reliance Industries, GAIL, Coal India, and Bharti Infratel led the losses.

Most sectoral indices were trading in the green in the opening trade. The Nifty Metal index rose the most, up 0.7 percent, while Nifty FMCG added 0.5 percent in opening deals. Nifty IT also advanced over 0.33 percent and Nifty Realty gained 0.4 percent each.

Meanwhile, Nifty PSU Bank lost the most 0.4 percent and Nifty Bank declined 0.15 percent.

Globally, MSCI’s broadest index of Asia-Pacific shares outside Japan was steady after rising 1.4 percent last week. Meanwhile, Japan’s Nikkei climbed 0.1 percent after reaching a 14-month top last week. It was ahead by 2.3 percent for the month so far. South Korea’s market was a shade weaker after adding 5.5 percent so far in December. Chinese shares were slightly lower with the blue-chip CSI300 down 0.1 percent.

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Opening Bell: Market in the red, Nifty around 12,250; RIL, Yes Bank top losers

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