Mumbai, India (BBN) – Following weak Asian cues, the Nifty and the Sensex opened and traded in the red. The Nifty opened 31 points down at 8,231, while the Sensex opened 22 points down at 26,725.
At 9:53am, the 30-share BSE index Sensex was down 103.61 points or 0.39 per cent at 26,643.57 and the 50-share NSE index Nifty was down 39.65 points or 0.48 per cent at 8,222.10, reports The Hindu Business Line.
A report by SMC Global said: “Asian share markets stumbled after initially opening higher on a surge in crude oil prices following an output cut deal reached at the weekend between OPEC and non-OPEC producers. US stocks rose to fresh records on Friday, capping their best week since the presidential election. The gains extend a month-long rally for stocks as investors pour money into companies that benefit from stronger economic growth and fiscal stimulus. Producer prices in Japan picked up 0.4 per cent on month in November, the Bank of Japan said. That beat expectations for 0.3 per cent following the 0.1 per cent decline in 0.1 per cent in October.”
All the broader and sectoral indices barring Nifty Realty and Nifty PSU Banks were trading in the red.Volatility was down 3.2 per cent with the India Vix quoting at 14.5850.