Indian indices opened flat to lower on Wednesday after hitting a record high on the previous day as losses in heavyweights HDFC, HUL, TCS and RIL, were capped by gains in ICICI Bank, L&T, Bajaj Finance and Infosys.
At 9:35 am, the BSE Sensex was trading 32 points lower at 43,915 while the NSE Nifty was down 10 points at 12,863. Broader markets were positive at opening with the Nifty Midcap and Nifty Smallcap indices simultaneously up 0.5 percent and 0.1 percent, each. Among sectors, Nifty Bank and Nifty Auto rose around 0.4 percent while the FMCG, IT, Metal and Pharma indices were in the red.
On the Nifty top gainers in early trade were Adani Ports, Tata Motors, SBIN, Powergrid dnd IndusInd bank. ON the other hand, losers included stocks such as PCL, Hindustan Unilever, Titan, Britannia and Tech Mahindra
Shares of Lakshmi Vilas Bank hit 20% lower circuit after the government put the financially stressed entity under a moratorium for a period of 1 month. Bank stocks will remain in focus today as the SC will hear the interest waiver case later today. DLF shares also gained over 2% after it enters into collaboration with GIC for launching housing projects in the national capital. Meanwhile, Asian markets are trading mixed at the time of writing this copy, with Japan's Nikkei down 0.64 percent, while Singapore's Straits Times and Hong Kong's Hang Seng both up by up to 0.71 percent.
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