Banks, RIL pull Sensex 400 pts lower; Nifty dips below 24,400
Sensex and Nifty50 opened marginally lower on Thursday, after logging gains in the previous session on Republican Donald Trump's win in the US presidential race. Investors are now turning their attention to the Federal Reserve's upcoming rate decision to gauge the interest rate trajectory.
The BSE Sensex was trading 402 points, or 0.50%, lower at 79,975. The Nifty50 was down 125 points, or 0.51%, trading at 24,359 around 9:31 am.
Both the Nifty and BSE Sensex rose 1.1% on Wednesday, marking their biggest single-day gain in over six weeks, after Donald Trump's US presidential win, which analysts saw as positive for domestic equities.
Other Asian markets also advanced, while all three major Wall Street indices hit record highs overnight, as markets reacted positively to the clarity of the US election outcome.
From the Sensex constituents, Bajaj Finserv, Power Grid, UltraTech Cement, ICICI Bank, Nestle India, and M&M opened lower, while Tata Steel, TCS, HCL Tech, and JSW Steel opened higher.
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