The Indian equities, Sensex and Nifty, opened marginally lower on Thursday, led by selling across oil and gas and metal stocks. Shares of Bank of Baroda rose nearly 2 per cent after the cabinet on Wednesday approved the merger of Vijaya Bank & Dena Bank with it.
At 9:25 hours, the BSE Sensex was trading 67.22 points, or by 0.19 per cent, lower at 35,824.30, and the NSE Nifty was at 10,755.60, down by 36.9 points or by 0.34 per cent.
Meanwhile, the mid cap and small cap indices were trading 11.88 points higher and 12.81 points higher in early morning trade.
The top gainers of the BSE Sensex pack were Tata Motors, Hindustan Unilever Ltd., Infosys, Bajaj Finance, and Tata Motors.
On the flip side, Oil And Natural Gas Corporation, Tata Steel, Axis Bank, Power Grid Corporation of India and HDFC Bank were among top laggards on the BSE.
The Market breadth, indicating the overall strength of the market, was positive. Out of 1405 shares traded on BSE, 750 advanced while 585 shares declined and 70 were unchanged.
Shares of Tata Power rose over 1 per cent after MERC allows BEST to extend its existing PPA with teh company for 676.69 MW for a period of five years from 1 April 2019 to 31 March 2024.
On Wednesday, Indian equities ended lower for the second straight session of this year hit by losses in auto, metals and banking stocks. The Sensex ended 363 points lower at 35,891, and the Nifty ended 117 points in the red at 10,792, as disappointing December sales numbers led to weakness in the auto stocks which dragged the broader market lower.
On the global front, Asian markets rebounded on Thursday after sell-off in the previous session, mirroring positive closing in the US equity market overnight, as weaker-than-expected Chinese manufacturing data coupled with a fall in France's PMI in December sent world shares tumbling. The weak Chinese data indicated that the ongoing trade war between China and the US will affect global economic growth.
Wall Street ended the first session of the year tad higher after volatile trading on Wednesday, led by a sharp drop in Apple shares. However, rebound in oil prices helped the market to offset weakness.
Edited by Chitranjan Kumar