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Opening Bell: Sensex, Nifty open with minor cuts amid weak global cues; SBI Life in focus

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The Sensex opened 92 points or 0.16 percent lower at 58,157 and Nifty50 opened 36 points or 0.21 percent lower at 17,320.

Opening Bell: Sensex, Nifty open with minor cuts amid weak global cues; SBI Life in focus
The Indian equity benchmark indices opened with minor cuts on Thursday following a weak finish in the markets on Wednesday and negative cues from global markets.
At 9:15 am, the Sensex opened 92 points or 0.16 percent lower at 58,157 and Nifty50 opened 36 points or 0.21 percent lower at 17,320. The broader markets opened mixed with midcaps falling slightly and small-caps rising over half a percent.
Among the sectoral gauges, banks, auto, financial services, media, metal, PSU banks opened in the green. Sectors like oil & gas, consumer durables, healthcare, realty, pharma, FMCG, and IT indices opened in the red.
Leading the gains among the blue-chip stocks were Hindalco, Kotak Mahindra Bank, Bharti Airtel, Britannia, and Bajaj Finserv. While SBI Life, Wipro, Cipla, Tech Mahindra, and Axis Bank were leading the losses.
Globally, Asian shares dropped in line with a cautious global mood as investors worried about the combination of slowing global growth and the potential tapering of central bank stimulus.
MSCI's broadest index of Asia-Pacific shares outside Japan lost 1.04 percent and Japan's Nikkei dropped 0.38 percent.
On Wall Street on Wednesday, the Dow Jones Industrial Average fell 0.2 percent, the S&P 500 lost 0.13 percent and the Nasdaq Composite dropped 0.57 percent.
Over in commodities, Oil prices ticked lower, giving up some of the last session's gains although a slow recovery in production in the US Gulf of Mexico output following Hurricane Ida offered some support. US crude dipped 0.1 percent to $69.23 a barrel. Brent crude fell 0.11 percent to $72.55 per barrel.
Gold also dropped slightly, languishing near two-week lows with the spot price at $1,787.67 per ounce off 0.09 percent.
(With inputs from Reuters)