The domestic stock markets opened in the green but quickly slipped into the red on Wednesday. At 10:35 am, the 30-share Sensex traded at 35,132.72, down 341.79 points or 0.96 per cent and the Nifty50 barometer of the National Stock Exchange (NSE) was at 10,571.60, with a loss of 84.60 points or 0.79 per cent. Twenty nine out of 50 Nifty stocks traded with losses. Losing between 2.16 per cent and 4.14 per cent, the top five laggards in the Nifty pack were Infosys, Tata Consultancy Services, Tech Mahindra, Reliance Industries, and HCL Technologies. Twenty three out of 50 Nifty stocks declined in trade.
In the sectoral landscape, IT stocks cracked over 3 per cent as all 10 stocks declined in trade

Oil and gas stocks, however, gained 0.57 per cent as crude oil prices hit 13-month lows on Tuesday. Bharat Petroleum, Hindustan Petroleum and Indian Oil were up between 2.53 per cent and 3.01 per cent on the BSE.

Uncertainty will prevail in the markets, say experts. “Bears are back in action pushed by weak global cues. Uncertainty will prevail in the market owing to the upcoming election and also liquidity concern in NBFC (non-banking finance companies) sector,” said Ritesh Ashar, Chief Strategy Officer, KIFS Trade Capital.

Asian stocks fell, weighed by a renewed bout of selling on Wall Street. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.55 per cent, reported news agency Reuters.

Courtesy By :- NDTV