Stock market indices witnessed a sharp sell-off in the opening session on Friday weighed down by the weakness Banking, IT, Telecom, Auto, Capital Goods and Banking sector stocks amidst global weakness in stocks.
Global markets fell from a record high in its biggest one-day decline in nearly three months as the technology sector sold off.
According to traders, the sell-off in global markets triggered the negative sentiment in domestic bourses today.
The BSE Sensex opened sharply lower at 38,325.00 against its yeserday’s closing level at 38,990.94.
At 9.20 am, the Senex was being quoted at 38395.33, down by 595.61, or 1.53% as compared to its previous close.
Similarly, the NSE Nifty too fell a whopping 170.40 points, or 1.48 per cent, to 11,357.05.
The market breadth was clearly negative on the BSE. Out the 1,550 shares traded as of now, the declining scrips were higher at 1,282, and the number of advancing shares was lesser at 205. However, scrips that remained unchanged were at 63.
All the the BSE Sensex shares were trading in the red shedding up to 3 per cent.