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Stock Market Updates: Sensex, Nifty open flat; Tech Mahindra, M&M top losers

Stock Market Updates: Sensex, Nifty open flat; Tech Mahindra, M&M top losers

At 09:22 hours, the 30-share BSE index was trading 34 points or 0.06 per cent lower at 58,215.96, and the broader NSE Nifty was down 18 points or 0.10 per cent to 17,335.40

Stock Market Updates: Sensex, Nifty open flat; Tech Mahindra, M&M top losers Stock Market Updates: Sensex, Nifty open flat; Tech Mahindra, M&M top losers

Indian benchmark indices opened flat amid weak global cues. At 09:22 hours, the 30-share BSE index was trading 34 points or 0.06 per cent lower at 58,215.96, and the broader NSE Nifty was down 18 points or 0.10 per cent to 17,335.40.

Tech Mahindra and M&M were the top losers in the Sensex pack, declining over 1 per cent, followed by Axis Bank, DRL, Sun Pharma, Titan, UltraTech Cement and Infosys.

On the other hand, Kotak Mahindra Bank and Bharti Airtel were among the gainers.

On September 8, the benchmark indices ended marginally lower amid weak global cues. Sensex closed 29.22 points lower at 58,250 and Nifty slipped 8.60 points to 17,353.

Nestle India was the top Sensex loser, shedding 2.44 per cent, followed by Maruti, Bajaj Finserv, Bajaj Auto, TCS and L&T.

Kotak Bank, Titan, NTPC and Sun Pharma shares were among the top Sensex gainers, rising up to 2.94%. Of 30 Sensex shares, 15 ended in the green.

Nagaraj Shetti, Technical Research Analyst, HDFC Securities said, "The present short-term consolidation movement is expected to end soon and that could open a decisive upside bounce from the lows in the next 1-2 sessions. The confirmation of higher bottom is likely to pull Nifty towards 17,550-17,600 levels by next week. Immediate support is placed at 17250 levels."

Foreign institutional investors (FIIs) sold shares worth Rs 802 crore on September 8, as per provisional data available on NSE.