Opening bell: Indian markets nosedived on Wednesday, tracking weak global peers

Equity indices opened lower and traded with losses in the early trade.

Equity indices opened lower and traded with losses in the early trade. Asian markets were trading lower on Wednesday, mirroring losses seen among their peers on Wall Street, following an overnight surge. Buying was seen by both foreign portfolio investors (FPIs) as well as domestic institutional investors (DIIs) worth Rs 374.89 crore and Rs 105.42 crore, respectively in the Indian markets on April 04. Crude oil is trading at $ 102 per barrel. The Rupee has depreciated this morning and is trading at 75.49 against the dollar.   

BSE Sensex moved down by 407 points and is trading at 59,769.32 levels. BSE Midcap also crept upwards by 21 points and is trading at 25,093.61. BSE Smallcap has soared 56 points and is trading at 29,638.50 levels. The stocks trading in the green on BSE Sensex include NPTC, Tata Steel, ITC, Larsen & Toubro, and Bharti Airtel.   

Nifty 50 index opened in red again today after ending in negative territory on Tuesday. It is currently down by 82 points and trading at 17,875.20 levels. Bank Nifty also dropped by 287 points and is trading at 37,780.35 levels. The gainers on Nifty 50 are NPTC, Tata Steel, Coal India, UPL, and BPCL.  

The market outlook is positive as out of 2,945 stocks traded, the number of stocks advanced is 1,865 while 974 stocks have declined in the morning session. Around 246 stocks are locked in the upper circuit while 66 stocks got locked in their lower circuit today. There are 100 stocks that are trading at the 52-week high while six stocks are trading at their 52-week lows.