Mumbai, June 3: Indian benchmark indices opened in the red on Wednesday, with selling pressure seen across key sectors, particularly information technology and banking stocks.
Key Highlights:
- Sensex falls 392 points to 74,257
- Nifty 50 declines 98 points, slips below 23,400
- Nifty IT drops 2.49%, biggest sectoral loser
- Nifty Bank down nearly 251 points
- Midcaps under pressure; Smallcaps trade flat
- NSE market breadth remains positive with over 1,000 advancing stocks
At the opening bell, the Sensex declined 392.33 points to 74,257.51, while the Nifty 50 fell 98.15 points to 23,385.40. Market breadth remained weak, with declining stocks significantly outnumbering advancing shares on the NSE.
The Nifty Bank index slipped 250.60 points (0.47%) to 53,462.05, reflecting pressure in major banking counters. The Nifty IT index emerged as the biggest sectoral laggard, tumbling 774.80 points or 2.49% to 30,341.75, indicating weakness in technology stocks.
Broader markets delivered a mixed performance. While the Nifty Midcap 100 index declined 140.05 points (0.23%) to 60,801.95, the Nifty Smallcap 100 remained largely unchanged at 18,052.50.
Market breadth data showed 1,004 advancing stocks against 653 declining stocks on the NSE during early trade, suggesting selective buying despite weakness in benchmark indices.
Investors are expected to closely track global market cues, sector-specific developments, and institutional flows for further direction throughout the trading session.
