Sensex Opening Bell: Heavy selling in the stock market; Sensex falls 500 points, Nifty slips below 20000

Sensex Opening Bell: At 9:37 am, Sensex was seen trading at 67,202.26, and Nifty 113.96 (0.57%) points weaker at 20,019.35 after falling by 394.58 (0.58%) points. A significant fall was recorded in the Indian stock market on Thursday. On Monday, the Sensex fell by 500 points while the Nifty slipped below 20000 after the fall. IOB shares fell by four per cent, while HDFC shares fell by three per cent. At 9.37 am, Sensex was seen trading at 67,202.26 after falling by 394.58 (0.58%) points and Nifty was seen trading at 20,019.35, falling by 113.96 (0.57%) points.

Indian markets had a weak start on Wednesday as US bond yields hit a 16-year high ahead of the US Federal Reserve meeting results. Domestic benchmark indices opened with losses on Wednesday, led by losses in major stocks like HDFC Bank, Reliance Industries and Infosys. In early trade, BSE Sensex was seen trading at 67,023 with a decline of 573 points or 0.85%. At the same time, Nifty was trading at the level of 20,002, slipping 130 points or 0.64%.

Among Sensex companies, HDFC Bank, Tech Mahindra, Tata Steel, Bharti Airtel and Infosys opened with losses, while ICICI Bank, Power Grid, L&T, IndusInd Bank, and Axis Bank opened with gains. HDFC Bank shares fell by up to three per cent on Wednesday. HDFC Bank on Monday said its gross non-performing assets (NPAs) are likely to increase from July 1 following the merger with HDFC Bank.

Shares of the company opened 3% higher after Bharat Dynamics signed a contract worth Rs 291 crore with IAF. Sector-wise, Nifty Financial Services declined by 0.87%, and Nifty Bank declined by 0.68%. FMCG, IT, Pharma, Realty, and Healthcare sectors also opened with a decline. In the broader market, Nifty Midcap 100 rose 0.05%, while Smallcap 100 opened flat.