Lagatar24 Desk
New Delhi, Sept.28: In absence of any good signs from the global front, domestic stock markets have opened cautiously. The S&P 500 and Nasdaq indices fell on Monday, as tech companies weighed on equities in the final week of the quarter. And stocks in Asia-Pacific mainly fell as firms reduced China’s GDP predictions. The BSE Sensex was trading at 60,029.60 at 9:18 a.m., down 73.50 points or 0.12%, and the NSE Nifty was trading at 17,843.20, down 13 points.
The BSE Midcap index and BSE Smallcap index have both gained roughly 0.2 percent, surpassing their largecap counterparts.
The Dow Jones rose 0.21 percent overnight to 34,869.37, while the S&P 500 fell 0.28 percent to 4,443.11 and the Nasdaq Composite fell 0.52 percent to 14,969.97.
As a result of multiple corporations downgrading China’s GDP projections, Asian stocks fell sharply in Tuesday morning session. The Kospi index in South Korea fell 0.81 percent. The Nikkei 225 index in Japan declined 0.72 percent, while the Topix index fell 0.99 percent. In Australia, the S&P/ASX 200 index fell 0.28 percent.
On the stock exchange, IT equities are trading down on Tuesday morning, with HCL, Infosys, and Tech Mahindra each dropping roughly 1%. Following their recent gains, IT stocks are seeing profit-booking for the second day in a row.
Power equities NTPC and Powergrid on the other hand, are each up roughly 3% on the BSE. Other notable gainers in the Sensex pack include Ultratech Cement, Titan, and SBI.
The market breadth on the BSE is thin. There are 1,514 advancing shares and 1,055 declining shares among the 2,721 stocks traded on the BSE so far.
