market down

The domestic stock markets started on a red note on Thursday’s opening trade amid weak global cues.

The S&P Bombay Stock Exchange index Sensex started at 35,694.25 and the NSE barometer Nifty50 opened at 10,718.15.

At 9:43 am, the 30-share Sensex was at 35579.30, down 305.11 points or 0.85%, while the 50-scrip Nifty was at 10678.70, with a loss of 104.20 points or 0.97%.

The top laggards on the Nifty pack were JSW Steel, ONGC, Yes Bank, Hindalco Industries and Indiabulls Housing Finance with losing between 1.87% and 2.28%.

Globally, the Asian markets and the US stocks tumbled on Thursday after a top executive of Chinese tech giant Huawei was arrested by Canadian authorities and agitating fears of tensions between the US and China.

Australian stocks fell 0.2% while South Korean by 0.6% and Japan’s Nikkei plunged by 0.8%.

Meanwhile, the S&P BSE Sensex closed 249.90 points or 0.69% lower at 35,884.41, and the broader Nifty50 settled at 10,784.95, with a loss of 84.55 points or 0.74%.

According to the provisional NSE data on Wednesday, domestic and foreign funds withdrew net equities worth Rs. 791.59 crore and Rs.357.82 crore respectively.

-Harleen Sandhu