HDFC Bank, RIL drag Sensex 500 points lower ahead of US Fed outcome; Nifty below 20,000
HDFC Bank, Reliance Industries, and Infosys.
The BSE Sensex was trading 573 points or 0.85% lower at 67,023. Nifty50 was trading at 20,004, down 130 points or 0.64% at around 9.16 a.m.
From the Sensex pack, HDFC Bank, Tech Mahindra, Tata Steel, Bharti Airtel, and Infosys opened with losses, while ICICI Bank, Power Grid, L&T, IndusInd Bank, Axis Bank opened with gains.
HDFC Bank opened nearly 3% lower after the bank on Monday said its gross non-performing assets will likely increase as of July 1, after its merger with HDFC.
Shares of Bharat Dynamics opened 3% higher after the company signed a contract worth Rs 291 crore with IAF.
Sector-wise, Nifty Financial Services declined 0.87% and Nifty Bank fell 0.68%.
FMCG, IT, pharma, realty, and healthcare sectors also opened lower. In the broader market, Nifty Midcap100 gained 0.05%, while Smallcap100 opened flat.
Experts Take
«There are too many challenges for the market in the near-term.
