Mumbai, India (BBN) – The Sensex and Nifty opened the session on a flat note as marketmen raised concerns over the Centre’s future reform policies in view of appointment of Yogi Adityanath as the Chief Minister of the country’s most populous state.

The 30-share BSE index Sensex opened lower by 4.55 points at 29,653.54 and the 50-share NSE index Nifty opened up 6.9 points at 9,166.95, reports the Hindu Business Line.

At 9:40am, the Sensex was down 118.06 points or 0.4 per cent at 29,530.93 and the 50-share NSE index Nifty was down 26.75 points or 0.29 per cent at 9,133.30.

Marketmen are particularly concerned about any large-scale selling by the foreign investors who tend to react promptly to any such development.

However, some analysts are hopeful that macroeconomic factors such as further movement on the GST rollout decision would eventually decide the course for the stock market, after a temporary hit from the development in Uttar Pradesh.