New Delhi, India (BBN)-The Sensex edged lower in the morning deals after opening in green for a brief period on the back of selling pressure visible across the sectors.
The 50-share Nifty slipped below 8,300 led by losses in heavyweights such as L&T, ONGC, TCS and ICICI Bank, reports NDTV.
The Indian markets have been facing the heat of selling pressure since quite some time now on account of selling by foreign institutional investors (FIIs). In the last 13 trading sessions, the FIIs have sold shares worth Rs 11,720 crore after adjusting the shares of Sun Pharma which they purchased via block deal.
Meanwhile, most of the sectors were facing the heat of selling pressure. Power stocks were among the worst hit. Select oil & gas, consumer durables, banking, auto and capital goods stocks were also among the laggards.
From the Nifty-50 basket of stocks, 36 stocks were declining while 14 were advancing. BPCL was the top Nifty loser, down 2 per cent at Rs 763. Ambuja Cements, NTPC, BHEL, TCS, Coal India, ACC, Sun Pharma, Larsen & Toubro, Bajaj Auto, ICICI Bank, Kotak Mahindra Bank, HDFC Bank and Maruti Suzuki were also among the losers.
On the other hand, Bharti Airtel was the top Nifty gainer the stock advanced 3.4 per cent to Rs 400 after MSCI increased its weightage on the MSCI India index from 1.3 to 2.6 per cent.
Cairn India, HCL Technologies, Idea Cellular, Hindalco, Tata Steel and PNB were also among the gainers.
As of 9:32 a.m., the Sensex was down 56 points at 27,384 and the Nifty fell 22 points to 8,302.
