Markets open on weak note: Sensex down 300 points, Nifty at 15,661

Most Sensex stocks, such as HDFC Bank, Axis Bank, and ITC were seen lagging. A day ago, equity benchmarks Sensex and Nifty had fallen from record-high levels to end on a negative note.

Market benchmark indices Sensex and Nifty opened on a weak note on Thursday, amid caution from investors ahead of the US Federal Reserve's policy meeting. Sensex dropped over 300 points or 0.57% on this day while the broader Nifty 50 benchmark shed over 100 points. At 9:15am on Thursday, Sensex was down 300.06 points at 52,201.92. On the other hand, the Nifty 50 tumbled 105.90 points to 15,661.65.

File Photo

Sectoral trends showed that all Nifty indices, including Nifty Metals, were trading in the red. Most Sensex stocks, such as HDFC Bank, Axis Bank, and ITC were also seen lagging.

On Wednesday, Sensex and Nifty had fallen from record-high levels to end on a negative note. The 30-share BSE index ended 271.07 points or 0.51% lower at 52,501.98. It had closed at an all-time high of 52,773.05 on Tuesday. The broader NSE Nifty retreated from a record and declined 101.70 points or 0.64% to 15,767.55. Investors say the domestic market took cues from the weak global market ahead of the US Fed's decision.

The market might be reluctant to push higher ahead of the Fed meeting beyond a point. While economists don't expect US Fed to alter rates or cut bond-buying immediately, any indication of an earlier than expected rollback of stimulus may dampen sentiments, investors said.

(With inputs from PTI)