The domestic stock markets dived by more than 1 per cent at opening bell due to weak hints from the international front.
Asian markets are trading lower, Wall Street ended lower over the weekend and patterns on SGX Nifty show a negative start for the more comprehensive index in India.
At 9:19 am, the BSE Sensex was trading at 48,132.55, lower by 637 points or 1.34 percent and the NSE Nifty was at 14,457.05, down 171.45 points or 1.16 per cent.Asian markets left to a slow start on Monday as vacations in China and Japan crimped volumes and investors waited for a raft of data today which ought to show the United States leading an international economic recovery.Wall Street ended lower on Friday, with Amazon, Apple, Alphabet and other tech-related companies weighing on the S-P 500 and Nasdaq regardless of current strong quarterly profits reports.
The Dow Jones fell 0.54 percent, while the S-P 500 lost 0.72 percent and Nasdaq Composite dropped 0.85 per cent.On the earnings front, Godrej Properties, IDBI Bank, Kotak Mahindra Bank, SBI Life Insurance Coverage and Tata Chemicals will state their Q4 numbers throughout the day.Select banking stocks are trading weak on the BSE; SBI has actually shed more than 2 percent, while HDFC Bank, HDFC and Axis Bank have actually shed 1-2 per cent each.
Index heavyweight Reliance Industries has actually likewise shed over 1 per cent after the nation's most important business reported that its net earnings rose 108 per cent to Rs 13,227 crore in the quarter ended March 2021 from Rs 6,348 crore during the corresponding duration a year earlier.
On a sequential basis, Reliance Industries' earnings increased 1 percent from Rs 13,101 crore.On the other hand, automobile stocks have actually bucked the weak pattern after posting good April sales numbers over the weekend.
M-M, Maruti Suzuki and Bajaj Vehicle have gained approximately a per cent each on the BSE.The BSE market breadth is weak.
Out 2,163 stocks traded on the BSE, there were 1075 advancing stocks as versus 992 declines.