Sensex opens below 38,000 mark, Nifty trades in the red
Equity benchmark BSE Sensex opened below the 38,000 mark on Friday, shedding over 90 points after a record closing on Thursday.
The BSE Sensex was trading 95 points or 0.25% lower at 37,929.37 seconds after opening, while the broader NSE Nifty was also down by 7.35 points or 0.06% to 11,463.35.
Banking and financial stocks like SBI, HDFC, ICICI Bank, IndusInd Bank and Kotak Mahindra Bank were leading the losses, with SBI trading 1.45% lower minutes into trading.
The RBI’s announcement on Thursday to transfer Rs 50,000 crore surplus to the government buoyed sentiment and led to a rally in banking stocks.
Stocks leading gains, on the other hand, included Bharti Airtel, Vedanta, ONGC, Hero MotoCorp, PowerGrid and Hindustan Unilever, trading as high as 1.60%
On Thursday, the BSE Sensex settled above the 38,000 -mark for the first time ever.