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The period of decline in the domestic stock market continues. Key benchmark indices Sensex and Nifty50 opened in the red on Thursday (January 9) amid mixed trends in global markets. Investors are adopting a cautious approach before the third quarter results of companies.
Market opened in red mark
Tata Consultancy Services (TCS) will announce its third quarter results on Thursday (January 9). With this the corporate earnings season will begin. Analysts say that the results of local companies will play an important role in deciding the direction of the market.
As of 9.33 am, the Sensex opened 271.78 points down at 77,876. While Nifty opened with a fall of 84 points at 23,604 points.
Nifty also had a bad start.
If we talk about the Nifty index of the stock market, then NSE Nifty started trading at the level of 23,674.75, which was below its previous closing level of 23,688.95 and within a few minutes its decline increased and till the time of writing it was below. gone. It was seen trading at the level of 23,600 with a gain of about 80 points. Even on the last trading day, huge fluctuations were seen in both the stock market indices.
These 10 stocks saw the biggest decline
Now let’s talk about the worst opening shares on the fourth trading day of the week, till the time of writing the news, Tata Motors shares (2%), LT shares (1.90%), Zomato shares (2%), SBI shares (1.40% ) was traded below
Apart from this, among the stocks included in midcap category, shares of Oil India (4.61%), shares of Kalyan Jewelers (2.89%) and shares of ACC (1.50%) were trading on decline.
Among smallcap companies, the biggest decline was in Marathon shares which were trading down 4.83%, followed by PGEL shares (3.86%) and KPEL shares (3.36%).
What do global signals indicate?
Global markets remained volatile on Thursday as Asia-Pacific shares fell. Investors reacted sharply to Wall Street’s volatile session and the minutes of the Federal Reserve’s December meeting. The meeting indicated that interest rates may remain high for a longer period due to rising inflationary pressures.
Investors in Asian markets are awaiting China’s December inflation data. The Nikkei lost 0.49%, the Topix index lost 0.61% and the ASX 200 lost 0.40%. However, the Kospi gained marginally.
In US markets, the S&P 500 and the Dow Jones rose slightly. The Federal Reserve minutes made it clear that policymakers are concerned about rising inflation risks, which is likely to slow the pace of policy easing. The S&P 500 rose 0.16%, the Dow Jones gained 0.25%, while the Nasdaq Composite fell 0.06%. Meanwhile, the US 10-year Treasury yield briefly surpassed the 4.7% level, reflecting investor concerns about inflation.