Sensex, Nifty Open in The Red; Crude Oil price falls

Stock Market indices opened in the negative zone on Thursday amid subdued global cues.  At 9.40am, the BSE Sensex was trading 130 points lower at 39,626 while the NSE Nifty50 index was trading 39 points lower at 11,867.

Meanwhile the Indian rupee closed 10ps stronger at 69.35/USD relative to Tuesday’s close of 69.45.

In Commodity watch, Crude Oil prices declined to 5-month low on rising US stockpiles on the back of a weaker outlook on oil demand and a rise in U.S crude inventories. The Brent crude futures were hovering around USD60.01 in early session.

On the NSE, all sectoral indices, except Nifty Realty and Financial services, are witnessing selling at this time, with Nifty metal and PSU bank index falling most by 0.88% and 0.63% respectively.

BPCL, Asian paint, Cipla, TCS and L&T were among major gainers in the Nifty50 stocks, whereas YesBank, IndusIndBank, Vedanta and JSW Steel led the losses.