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Opening Bell: Sensex sheds over 200 points, Nifty below 18,000; bank stocks drag

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Domestic stock market indices opened in the red on Wednesday following Asian peers with Sensex falling over 200 points and Nifty below 18,000. Bank Nifty remained under pressure as the banking index shed nearly 200 points to open at 38,113.40.

Opening Bell: Sensex sheds over 200 points, Nifty below 18,000; bank stocks drag
Domestic stock market indices opened in the red on Wednesday following Asian peers with Sensex falling over 200 points and Nifty below 18,000.
At 9:15 am, the BSE Sensex dropped 224.82 points, or 0.37 percent to 60,097.55, while the Nifty50 was down 67.90 points, or 0.38 percent to 17,931.30.
Bank Nifty remained under pressure as the banking index shed nearly 200 points to open at 38,113.40.
As small-caps rose, broad markets traded mixed. The India VIX, or volatility index, was down over 3 percent. The worst-performing stock on the Sensex was HDFC, which fell 1.1 percent, followed by Reliance Industries, Dr Reddy, and bank stocks. Asian Paints, up 1.7 percent, led the gainers followed by NTPC, Maruti Suzuki India, and ITC.
Tarsons Products IPO enters the final day of sale today, after having been oversubscribed by all sections of investors. Go Fashion’s IPO will open for sale today.
Most Asian stocks dipped on Wednesday after robust US economic data lifted Wall Street shares, Treasury yields and the dollar and spurred more calls for tighter monetary policy.
Oil prices dropped on Wednesday after US gasoline stocks fell more than expected last week, which could heighten pressure on the Biden administration to release oil from emergency reserves to cap soaring gasoline prices.
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