Market opening: Sensex initiates in negative territory at 69,518, Nifty declines to 20,906

Image Source : FILE Business stock exchange building.

In the early trade on Wednesday, Indian equity benchmarks faced a downturn, primarily influenced by declines in bank, financial, and information technology (IT) sectors. The 30-share BSE Sensex declined by 0.18%, dropping 123 points to reach 69,428, while the broader NSE Nifty was down 0.11%, shedding 24 points to trade at 20,882. Despite this, mid- and small-cap shares showed positivity, with Nifty Midcap 100 gaining 0.02%, and small-cap climbing 0.15%. The fear index, India VIX, rose by 0.53% to reach the 12.78-level.

Asian markets, for the most part, experienced lower trading, while Wall Street equities closed higher overnight. Investors are now awaiting the policy decision from the US Federal Reserve, scheduled to be released at 12:30 am on Thursday.

 

Meanwhile, domestic factors include a surge in retail inflation in November, marking its fastest pace in three months at 5.55%, attributed to higher food prices. On the BSE, notable decliners included Bank of India, Adani Total Gas, Sonata Software, Suntech Realty, and Paytm, with losses of up to 5.57%.

Investors are closely observing market movements as the indices reflect a red opening, signaling potential shifts in the financial landscape. 

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