Stock market bloodbath continues, indices open lower

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Bombay Stock Exchange
Bombay Stock Exchange. (File Photo: IANS)

Taking a cue from Asian markets, the key Indian equity market indices on Thursday opened lower with fears over the Reserve Bank of India (RBI) turning more hawkish in its monetary policy stance.

The Sensitive Index (Sensex) of the BSE, which had closed at 35,975.63 points on Wednesday, opened lower at 35,820.53 points.

Minutes into trading, it was quoting at 35,603.53 points, down by 372.10 points, or 1.03 per cent.

At the National Stock Exchange (NSE), the broader 51-scrip Nifty, which had closed at 10,858.25 points on Wednesday, was quoting at 10,697.15 points, down by 161.10 points or 1.48 per cent.

Rise in crude oil prices, along with a weak rupee and outflow of foreign funds, had dragged the key domestic equity indices lower over one per cent on Wednesday.

In addition, fears over the central bank turning aggressive in its monetary policy stance due to a rise in inflationary pressure also led to erosion in investors’ risk-taking appetite.

The Sensex was down by 550.51 points or 1.51 per cent at the Wednesday’s closing. In the day’s trade, the barometer 30-scrip sensitive index had touched a high of 36,602.85 points and a low of 35,911.82 points. The Nifty, was down by 150.05 points or 1.36 per cent.

On Thursday, Asian indices were showing a negative trend. Japan’s Nikkei 225 was quoting in red, down by 0.72 per cent while Hang Seng was down by 1.80 per cent, South Korea’s Kospi was also down by 1.41 per cent.

Overnight, Nasdaq closed in green, up by 0.32 per cent while FTSE 100 was also up by 0.48 per cent at the closing on Wednesday.