BT Opening Bell | Sensex, Nifty open on a flat note; IT stocks top losers

Domestic benchmark indices Sensex and Nifty opened on a flat note on Thursday after the Federal Reserve kept its policy rates unchanged. Sensex slipped 16 points to 77139 and Nifty was up 4 pts to 24090 in early deals today.  

Among Sensex constituents, BEL, Trent, HDFC Bank, L&T, Sun Pharma and SBI rose up to 0.92% while Infosys, HCL Tech, Tech Mahindra, TCS, Bajaj Finance and RIL shares dropped up to 2.56%, respectively.

VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited said, "Indian market will not be unduly influenced by the developments on the Fed rate front. In the near term the market will remain resilient supported by the crash in Brent crude to around $78 levels. Rupee is stable at around 94.52  level. FII selling has tapered off as expected and yesterday FIIs turned buyers, though in limited quantity. Brent crude prices at around $78 level and stability in the rupee are big positives from the market perspective. Bank Nifty will remain strong with upward bias."

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Previous session

The stock market extended its winning streak for the fourth consecutive session on Wednesday, backed by  favourable global cues and sustained buying across sectors. Nifty closed at 24,085.40, up 0.40% or 97 pts. Sensex too gained 347 pts to end at 77,156.  Among Sensex constituents, Trent (7%), BEL (3%), Eternal (1.95%) and Tata Steel (1.53%) shares were the top gainers.