Nifty opens below 10,850, Sensex falls 500 pts; Nifty Bank sheds 2%
Market Opens: It is a negative start for the Indian indices on the first day of the week as Nifty slipped below 10,850.
At 09:16 hrs IST, the Sensex is down 465.38 points or 1.25% at 36652.84, and the Nifty down 141.90 points or 1.29% at 10855.50. About 183 shares have advanced, 720 shares declined, and 36 shares are unchanged.
HDFC, TCS, NTPP, HCL Tech, are some of the major gainers on the indices, while losers include ICICI Bank, Axis Bank, Britannia, Bajaj Finance, Hero Motocorp, DHFL, Equitas Holding, LIC Housing, Union Bank of India and Indiabulls Housing.
All the sectoral indices are trading in the red led by the PSU bank, metal, auto, enenrgy, FMCG, infra and IT.
Rupee opens at lowest level since May 17: The Indian rupee slipped in the early trade on August 5 as it opened at the lowest level since May 17 against the US dollar.
IT opened lower by 55 paise at 70.14 per dollar on Monday against Friday's close 69.59.
Stocks in the news: ITC, RIL, Nestle, NIIT, Coffee Day, DHFL, Union Bank, Bata India, JK Cement