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Opening Bell: Sensex starts lower, Nifty below 12,650; banks, metals drag indices

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Indian equity benchmark indices opened lower on Friday following a selloff in Asian peers as rising pandemic cases globally dampened investor sentiment. At 9:15 am, the Sensex opened 0.13 percent, or 58.27 points, lower at 43,298.92, while the Nifty50 index opened at 12,659.70, down 31.10 points, or 0.25 percent.

Opening Bell: Sensex starts lower, Nifty below 12,650; banks, metals drag indices
Indian shares opened lower on Friday following a selloff in Asian peers as rising pandemic cases globally dampened investor sentiment. At 9:15 am, the Sensex opened 0.13 percent, or 58.27 points, lower at 43,298.92, while the Nifty50 index opened at 12,659.70, down 31.10 points, or 0.25 percent.
Heavy selling in banking stocks dragged the banking gauge, Nifty Bank more than 400 points lower. Broader markets traded mixed as Nifty Smallcap100 outperformed the benchmarks with 0.2 percent gains.
Among sectoral indices, the Nifty Private Bank, Nifty Financial Services and Nifty Metal fell the most while Nifty Pharma, Nifty IT and Nifty Realty traded in the green.
IndusInd Bank, HDFC, HDFC Bank, Axis Bank and Tata Motors were the top Nifty50 losers while Eicher Motors, Titan, Dr Reddy's Labs, Infosys and Sun Pharmaceuticals were the top gainers.
Shares of Indiabulls Real Estate rallied over 8 percent after Rakesh Jhunjhunwala's Rare Enterprises acquired 50 lakh shares of the company at an average price of Rs 57.73 through an open market transaction on Thursday.
Stocks in Asia fell on Friday, following on from selloffs in the United States and Europe as investors feared the economic impact of an accelerating rise in coronavirus infections.
MSCI's broadest index of Asian shares outside Japan dipped 0.25 percent in early trade as shares across the region stumbled. Chinese blue-chips led losses, falling 1.21 percent. Australian shares lost 0.47 percent, Seoul's Kospi was down 0.16 percent and the Hang Seng was 0.55 percent lower. Japan's Nikkei 225 fell 0.95 percent.
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