Sensex slips 256 pts as banks, autos drag Nifty below 25,450
Sensex slips 256 pts as banks, autos drag Nifty below 25,450
Equities open weak as financials and autos pull benchmarks lower, while IT names offer a glimmer of support.
Indian equities opened on a subdued note, with the Sensex slipping 256.50 points to 81,992.11 at 9:17 am. The weakness was mirrored in the Nifty 50, which fell 94.65 points to 25,401.90, slipping below the 25,450 mark. IT counters bucked the trend, with Infosys rising over 2.4% to around Rs 1,320, emerging as the top gainer on the Nifty pack. Tech Mahindra and HCLTech gained over 1.5% each, while TCS added nearly 1%. Wipro also traded in the green.
The buying interest in IT counters comes even as broader indices face pressure, suggesting selective sectoral rotation amid global cues and currency movements. Banks, heavyweights weigh, with ICICI Bank, Kotak Mahindra Bank and Axis Bank among the key losers, each slipping between 0.5% and 0.8%. HDFC Bank also traded marginally lower.
Heavyweight Reliance Industries declined about 1%, adding to the downward pressure on the Sensex. Other notable laggards included Bharti Airtel, Maruti Suzuki, M&M and UltraTech Cement, each falling over 1% in early trade. The broader weakness extended across autos, telecom and select metal stocks, underscoring a cautious mood as traders digest global cues and domestic developments.
