The stock markets opened flat in early trades on Thursday ahead of February F&O expiry. At 9:30, the Sensex was down 4 points at 18,141 and the Nifty dipped 4 points at 5,501 levels.
On the global front, Asian shares and the euro fell on Thursday on concerns over a slowdown in the global economy, including higher oil prices and data showing the euro zone may be sliding toward recession, fanning fresh worries about Greece.
MSCI's broadest index of Asia Pacific shares outside Japan edged down 0.2 per cent, while Japan's Nikkei average opened nearly flat.
Back home, technical analysts suggest that the Nifty could witness a sharp dip from the current levels and a strong support is expected at 5,407 and 5,310 levels in the near-term.
On the sectoral front, BSE Metal, Power, Realty and Capital Goods indices are leading the downfall, all slumping by nearly 1% each. However, BSE IT index is up by almost 1%.
Bharti Airtel is the top Sensex loser, down 3% on reports that Econet Wireless is seeking at least $3.1 billion in damages from the company in a dispute over ownership of its subsidiary Airtel Nigeria..
Metal shares like Sterlite, Hindalco, Coal India, Hindalco and Tata Steel have declined between 1-2%.
From the Capital Goods space, L&T has slipped by over 1%.
Auto stocks like Maruti Suzuki and M&M have slipped between 1-2%.
The broader indices have extended yesterday’s losses and continue to underperform– BSE Midcap and Smallcap indices are down nearly 1% each.
The market breadth in BSE remains unhealthy with 474 advancing and 782 shares declining.
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Updated at 9:16
The Indian markets have opened on a marginally lower note tracking global cues. The Sensex opened at 18,126 levels down 19 points and the Nifty declined by 5 pts at 5,506
On the domestic front, the F-and-O expiry for the February series due today is likely to impact the sentiment.
Asian shares and the euro fell on Thursday on concerns over a slowdown in the global economy, including higher oil prices and data showing the euro zone may be sliding toward recession, fanning fresh worries about Greece.
M-S-C-I's broadest index of Asia Pacific shares outside Japan edged down 0.2 per cent, while Japan's Nikkei average opened nearly flat.
Back home, technical analysts suggest that the Nifty could witness a sharp dip from the current levels and a strong support is expected at 5,407 and 5,310 levels in the near-term.