Stock Market: Indian stock market opened in red, Nifty below 26,200 level, know the condition of Sensex.

Mumbai, 8 December. Indian benchmark indices opened in the red on Monday, the first trading day of the week. Selling was seen in Nifty Auto, PSU Bank, Financial Services, Pharma, FMCG and Realty in early trade. At 9.34 am, the Sensex was trading at 85,580.57, down 131.80 points or 0.15 per cent. Nifty was at 26,141.90, down 44.55 points or 0.17 per cent.

Nifty Bank was trading at 59,566.05 level with a marginal decline of 211.15 points or 0.35 per cent. At the same time, Nifty Midcap 100 index was trading at 60,589.25 level after a decline of 5.35 points or 0.01 percent. The Nifty Smallcap 100 index was at 17,465.15 with a loss of 42.60 points or 0.24 per cent.

Market experts said, “The market may remain volatile in the short-term due to emerging positive and negative news. Signs of strong economic growth and return of earnings growth are supportive for the market. This year, the country’s economy is moving forward with strong GDP growth, as shown by the 8.2 percent GDP growth figure for the second quarter of the current financial year. Along with this, the GDP growth rate for the current financial year has been revised downwards by RBI. Increasing the estimate to 7.3 percent is a good sign for the market.”

Meanwhile, Bajaj Finance, Asian Paints, BEL, Sun Pharma, Trent, NTPC, PowerGrid, ICICI Bank and L&T were the top losers in the Sensex pack. Whereas, Eternal, Tech Mahindra, Infosys, TMPV, TCS, Tata Steel and HCL Tech were the top gainers. In Asian markets, Jakarta, Bangkok, China and Seoul were trading in the green. While only Japan and Hong Kong remained on the red mark. American markets closed in the green on Friday, the last trading day. The Dow Jones Industrial Average closed at 47,954.99, up 0.22 percent or 104.05 points.

At the same time, the S&P 500 index closed at 6,870.40 level after a gain of 0.19 percent or 13.28 points and the Nasdaq closed at 23,578.13 after a gain of 0.31 percent or 72.99 points. Foreign institutional investors (FIIs) were net sellers on December 5 and sold Indian shares worth Rs 438.90 crore. Domestic institutional investors (DIIs) were net buyers on this trading day and purchased shares worth Rs 4,189.17 crore.