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    Opening Bell: Market opens flat, Nifty trades below 11,900; Titan plunges over 8%

    Opening Bell: Market opens flat, Nifty trades below 11,900; Titan plunges over 8%

    Opening Bell: Market opens flat, Nifty trades below 11,900; Titan plunges over 8%
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    By Mousumi Paul   IST (Published)

    Mini

    The Indian market opened flat on Wednesday with a negative bias, with PSU banks and Titan among the top losers in the opening trade.

    The Indian market opened flat on Wednesday with a negative bias, with PSU banks and Titan among the top losers in the opening trade.
    The 30-share BSE Sensex opened 48.08 points or 0.12 percent lower at 40,200.15 while the Nifty50 index was down 21.80 points or 0.18 percent at 11,895.40.
    Broader indices, however, remained in the positive territory, with the Nifty Midcap 100 index trading 0.17 percent higher and the Nifty Smallcap 100 index up 0.27 percent.
    Zee Entertainment, Sun Pharma, Hindalco, M&M and Cipla were the top gainers on the Nifty50 index in the opening trade while Titan, Bharti Infratel, HCL Technologies, Bharti Airtel and Bajaj Finserv remained the top laggards.
    Titan's shares plunged nearly 8 percent on Wednesday after brokerages slashed their target prices on the stock. CLSA downgraded the stock to 'sell' with the target price cut to Rs 1,025 from Rs 1,350 due to disappointing Q2 earnings.
    Meanwhile, Asian shares pulled back slightly on Wednesday as investors awaited new developments toward scaling back a bruising trade war between the United States and China.
     
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