Sensex, Nifty Today: Twenty nine out of 50 Nifty stocks traded with losses.The domestic stock markets opened in the green but quickly slipped into the red on Wednesday.
At 10:35 am, the 30-share Sensex traded at 35,132.72, down 341.79 points or 0.96 per cent and the Nifty50 barometer of the National Stock Exchange (NSE) was at 10,571.60, with a loss of 84.60 points or 0.79 per cent.
Twenty nine out of 50 Nifty stocks traded with losses.
Losing between 2.16 per cent and 4.14 per cent, the top five laggards in the Nifty pack were Infosys, Tata Consultancy Services, Tech Mahindra, Reliance Industries, and HCL Technologies.
Twenty three out of 50 Nifty stocks declined in trade.In the sectoral landscape, IT stocks cracked over 3 per cent as all 10 stocks declined in tradeOil and gas stocks, however, gained 0.57 per cent as crude oil prices hit 13-month lows on Tuesday.
Bharat Petroleum, Hindustan Petroleum and Indian Oil were up between 2.53 per cent and 3.01 per cent on the BSE.Uncertainty will prevail in the markets, say experts.
"Bears are back in action pushed by weak global cues.
Uncertainty will prevail in the market owing to the upcoming election and also liquidity concern in NBFC (non-banking finance companies) sector," said Ritesh Ashar, Chief Strategy Officer, KIFS Trade Capital.Asian stocks fell, weighed by a renewed bout of selling on Wall Street.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.55 per cent, reported news agency Reuters.The dollar stood tall, rallying from a two-week low, as the currency found safe-haven demand from heightened risk aversion.Oil prices recovered some of the previous day's over 6 per cent plunge, lifted by a report of an unexpected decline in US commercial crude inventories as well as record Indian crude imports.
But investors remained on edge, with the International Energy Agency warning of unprecedented uncertainty in oil markets due to a difficult economic environment and political risk.
International Brent crude oil futures were at $63.35 per barrel at 0401 GMT or 9:31 am IST, up 82 cents, or 1.3 per cent from their last close.On Tuesday, foreign portfolio investors and domestic institutional investors sold net equities worth Rs 753.17 crore and Rs 44.06 crore respectively, provisional NSE data showed.
The Sensex had closed at 35,474 while the Nifty at 10,656.
(With agency inputs)