Nifty below 10,700, Sensex down 300 points; OMC, metal stocks under pressure
OMC stocks are trading weak, JSW Steel, Yes Bank, Cipla, DLF, PFC, HDFC, IndusInd Bank are among other losers.
It is a weak start for the market on Thursday as Nifty slipped below 10,750 level.
At 09:17 hrs IST, the Sensex is down 199.23 points at 35,685.18, while Nifty down 64.60 points at 10,718.30. About 183 shares have advanced, 538 shares declined, and 27 shares are unchanged.
OMC stocks are trading weak, JSW Steel, Yes Bank, Cipla, DLF, PFC, HDFC, IndusInd Bank are among other losers. Infosys, REC, Jet Airways and Sun Pharma are trading higher.Benchmark indices are flat in the pre-opening session with Nifty is around 10,750.
At 09:01 hrs IST, the Sensex is up 20.30 points or 0.06% at 35904.71, and Nifty is down 32.50 points or 0.30% at 10750.40.
Shares of HDFC are trading lower in the pre-opening trade, while REC is trading higher ahead of Cabinet meeting.Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 91.50 points or 0.84 percent.
Oil prices dipped on Thursday in tepid trading ahead of a meeting by producer group OPEC that is expected to result in a supply cut aimed at draining a glut that has pulled down crude prices by 30 percent since October.
U.S. West Texas Intermediate (WTI) crude futures were at $52.57 per barrel at 0109 GMT, down 32 cents, or 0.6 percent, from their last close.
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