Opening Bell: Nifty, Sensex open in green; Nifty Bank slips to 24,200 levels
Summary
With the March auto sales indicating a boost, the auto firms are likely to pull up the market today.
As the new financial year began today, the markets were showing green signals on account of the new norms including e-way bill kicking in. Benchmark indices opened in the green today with the NSE Nifty standing at 10,150 levels and the BSE Sensex at 33,000 levels. With the March auto sales indicating a boost, the auto firms are likely to pull up the market today.
The Nifty Bank, however, opened in the red today by falling over half a percent to 24,200 levels. The fall in the index comes as a result of the ICICI-Videocon loan case which has already led the ICICI bank stock to slip by more than 3%. Axis Bank is also down by 1.4%, pulling the index down further
Titan, Bajaj Finserv and Grasim will now be a part of the NSE 50-share Nifty, replacing Ambuja Cements, Aurobindo and Bosch from Monday.
In global markets, the Singaporean index, the SGX Nifty, is trading at 10,230 levels as against Nifty March Future’s close on Wednesday, when the index stood at 10,115.
The F&O expiration on Wednesday, the March series close, also lent a hand in pulling down the benchmark indices before the long weekend. The BSE Sensex lost 2.3% and the NSE 50-share Nifty lost 2.4%.
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