Indian equities opened sharply lower on Thursday, tracking weak cues from Asian peers, as trade wars and risks in emerging markets currencies weighed on investor sentiment. Overseas, the Asian stocks were bleeding in red, after sharp sell-off in the US stocks in overnight trade, with Japan’s Nikkei 225, Hang Seng and Shanghai composite down over 3 per cent.
At 9:23 hours, the 30-share benchmark index was trading at 33728.51, down by 1032.38 points or by 2.97 per cent, and the NSE Nifty was at 10169.8, down by 290.3 points or by 2.78 per cent.
The top losers of the BSE Sensex pack were Axis Bank Ltd. (Rs. 559.00,-5.15%), YES Bank Ltd. (Rs. 222.95,-4.74%), Vedanta Ltd. (Rs. 208.45,-4.36%), State Bank of India (Rs. 266.80,-4.06%), Bharti Airtel Ltd. (Rs. 283.90,-3.97%), among others.
Among the thirteen sector indices, all the indices opened bleeding in red with realty and IT stocks emerged as top losers on BSE, falling as much as 4.09 per cent and 3.71 per cent, respectively.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 1444, shares advanced were 182, while 1232 shares declined and 30 were unchanged.