Market

Opening Bell: Sensex opens flat, Nifty around 13,950; banks decline; auto, realty stocks gain

Updated : December 31, 2020 09:39 AM IST

Broader markets outperformed the benchmarks with Nifty Smallcap100 and Nifty Midcap100 trading higher.

The Indian equity benchmark indices opened flat on Thursday as gains in auto and metal stocks were countered by selling in banking and financial stocks.

At 9:15 am, the Sensex opened 0.01 percent, or 6.89 points, higher at 47,753.11, while the Nifty50 index opened at 13,970.00, down 11.95 points, or 0.09 percent.

Broader markets outperformed the benchmarks with Nifty Smallcap100 and Nifty Midcap100 trading higher.

Among sectoral indices, the Nifty PSU Bank, Nifty IT and Nifty Financial Services declined while Nifty Auto, Nifty Realty and Nifty Metal were trading in the green.

Tata Motors, ONGC, Titan Company, Tata Steel and Hindalco Industries were the Nifty50 top gainers, while SBI, Shree Cements, TCS, HDFC and Kotak Mahindra Bank were the top index losers.

Shares of Adani Green Energy gained over 3 percent after the company commissioned a 100 megawatt (MW) solar power project at Khirsara in Gujarat.

FDC stock price traded over 2 percent higher after the company said it will expand its production capacity by the installation of an additional BFS machine.

Globally, Asian shares edged up on Thursday and were set to end a tumultuous 2020 at record highs, while growing investor hopes for a global economic recovery caused the dollar to fall further against most major currencies, Reuters reported.

MSCI's gauge of Asia-Pacific shares excluding Japan rose 0.1 percent to its latest peak, having explored fresh territory repeatedly late in the year. But year-end trading was typically thin.

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