Mumbai. The Indian Stock Market opened in the red on Friday’s trading day. In early trade at 9.19 am, BSE Sensex opened at 81,444.80 after slipping 166.61 points or 0.20 percent. At the same time, NSE’s Nifty is trading at 24,947.75 after falling 50.70 points or 0.20 percent. The market trend remains negative. On the National Stock Exchange (NSE), 880 shares are trading in the green, while 1161 shares are trading in the red. Banking shares are leading the decline. Nifty Bank was down 120 points or 0.2 per cent at 51,410. The Nifty Midcap index is trading at 58,958.10 level after rising 22.25 points or 0.04 per cent.
At the same time, Nifty 100 index is at 26,043.55 after falling 35.60 points or 0.14 percent. HCL Tech, Wipro, Sun Pharma, Tech Mahindra, Tata Steel, Tata Motors are the top gainers in the Sensex pack. The list of losers includes SBI, L&T, Maruti Suzuki, Axis Bank, NTPC, UltraTech Cement. Asian markets are witnessing a boom. The markets of Tokyo, Hong Kong, Bangkok, Jakarta and Seoul are trading at a brisk pace. American stock markets closed with a decline on Thursday. According to market experts, the market is likely to remain volatile in the near future, which will continue to alternate between FII selling and DII buying.
Attractive valuations in other markets, especially Chinese stocks, will lead to further selling by FIIs in India, as Indian valuations are at elevated levels. The Indian Stock Market closed with a rise in Thursday’s trading session. The rise in the market was due to buying in banking shares. At the end of trading, Sensex was at 81,611, up 144 points or 0.18 percent, and Nifty was at 24,998, up 16 points or 0.07 percent.