Sensex Opens 300 Points Lower, Nifty Below 15,500; Tech Mahindra & ITC Top Losers

Asian stock markets are trading on a mixed note today. The Hang Seng is down 0.7% while the Nikkei is trading higher by 0.6%.

In US stock markets, Wall Street indices ended flat after data showed US manufacturing activity picked up in May as pent-up demand in a reopening economy boosted orders.

However, unfinished work piled up because of shortages of raw materials and labor.

The Dow Jones Industrial Average rose 0.1% while the Nasdaq ended 0.1% lower.

Back home, Indian share markets have opened on a negative note.

Market participants will track shares of MTAR Technologies, Muthoot Finance, and PVR as these companies are scheduled to release their quarterly earnings today.

The RBI's 3-day monetary policy meeting will begin later today, amid expectations that inflation and growth concerns could see the Monetary policy committee (MPC) maintain an accommodative stance.

The BSE Sensex is trading down by 330 points. Meanwhile, the NSE Nifty is trading lower by 76 points.

NTPC is among the top gainers today. ITC, on the other hand, is among the top losers today.

The BSE Mid Cap index has opened up by 0.6%. The BSE Small Cap index is trading higher by 0.5%.

Sectoral indices are trading on a mixed note with stocks in the metal sector and power sector witnessing buying interest.

FMCG stocks and banking stocks, on the other hand, are trading in the red.

Shares of Magma Fincorp and PNB Housing Finance hit their 52-week highs today.

The rupee is trading at 73.08 against the US$.

Gold prices are trading up by 0.2% at Rs 49,098 per 10 grams.

Meanwhile, silver prices are trading down by 0.5% at Rs 71,900 per kg.

Among gold ETFs, HDFC Gold ETF and SBI Gold ETF are among the top losers today.

Speaking of the current stock market scenario, note that the BSE Smallcap index touched a lifetime high recently.

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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