The BSE Sensex and NSE Nifty rose after falling over 2% in the opening trade on Monday under the influence of close fight in voting between BJP and Congress in Gujarat and Himanchal Pradesh. The disturbance also weakened against the US Dollar, while bond yield hit a fresh 16-month high.
As the market opened, BSE Sensex was down by 531.93% points (1.59%), to 32,931.04 while the Nifty 50 fell 217.30 points (2.10%) to 10,115.95. The market also saw rupee opened at 64.23 against a dollar and touched a low of 64.40. At 09:15, rupee was trading at 64.39 dollar, down 0.54% at the time it closed on Friday at 64.05. The 10-year bond yield was at 7.192%, a level last seen on 3 August 2016, compared to its previous close of 7.134%.
At 09:42 all the 19 sectoral indices declined, with BSE Telecom Index fell over 3.3% followed by BSE Basic Materials and Metals were down 2.5% each. BSE bankex fell 2.4%.
At 09:44 BSE Sensex trades lowered by 141.29 points, or 0.42%, to 33,321.68, while the Nifty 50 fell 37.05 points, or 0.36%, to 10,296.20.
Shares of M&M, Adani Ports, L&T and ICICI Bank are top gainers with gains to the tune of 2.49%, 1.99%, 1.54% and 1.30%, respectively. Meanwhile, PowerGrid, TCS and ITC fell 0.93%, 0.91% and 0.51%, respectively.
At 10:10 BSE Sensex trades gained by 102.69 points (0.31%) to 33,565.66, while the Nifty 50 rose 22.05 points (0.21%), to 10,355.30.
(With inputs from Livemint)