Sensex opens below 38,000 mark, Nifty trades in the red

Sensex opens below 38,000 mark, Nifty trades in the red

By / Business News / Friday, 10 August 2018 08:03

Equity benchmark BSE Sensex opened below the 38,000 mark on Friday, shedding over 90 points after a record closing on Thursday.

The BSE Sensex was trading 95 points or 0.25% lower at 37,929.37 seconds after opening, while the broader NSE Nifty was also down by 7.35 points or 0.06% to 11,463.35.

Banking and financial stocks like SBI, HDFC, ICICI Bank, IndusInd Bank and Kotak Mahindra Bank were leading the losses, with SBI trading 1.45% lower minutes into trading.

The RBI’s announcement on Thursday to transfer Rs 50,000 crore surplus to the government buoyed sentiment and led to a rally in banking stocks.

Stocks leading gains, on the other hand, included Bharti Airtel, Vedanta, ONGC, Hero MotoCorp, PowerGrid and Hindustan Unilever, trading as high as 1.60%

On Thursday, the BSE Sensex settled above the 38,000 -mark for the first time ever.

Author

Hum Hindustani

Hum Hindustani

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