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Sensex, Nifty open higher, then dip amid expectations of positive Iran-Qatar talks
GIFT Nifty futures were at 24,360.50 points, as of 8:12 am, indicating a positive start for the Nifty 50, which closed at 24,207.75 on Wednesday.
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Stock marked indices Sensex and Nifty opened higher but slid soon after opening on Thursday. The higher opening was amid oil prices falling on expectations that talks between Iran and Qatar may open the Strait of Hormuz, key waterway that used to be the travel route for a fifth of world's oil and energy requirements before the war.
Sensex dipped 45.17 points to 77,422.70 in early trade, while Nifty skid 6.40 points to 24,202.45 on Wednesday.
GIFT Nifty futures were at 24,360.50 points, as of 8:12 am, indicating a positive start for the Nifty 50, which closed at 24,207.75 on Wednesday, according to data cited in a Reuters report.
Among the 30 Sensex firms, Infosys, Bharti Airtel, Larsen & Toubro, Power Grid, Tech Mahindra, NTPC, Mahindra & Mahindra and Reliance Industries were the major laggards on Wednesday, according to a PTI news agency report.
Kotak Mahindra Bank, UltraTech Cement, Axis Bank and Tata Steel were among the winners.
"Indian equity markets ended marginally lower on Wednesday as early gains gave way to profit-taking, with weakness in IT, FMCG, auto and consumer-durable stocks offsetting support from lower crude oil prices and a broadly constructive global backdrop," Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, was quoted as saying by PTI.
