Opening bell: Indices trade in red, market outlook remains positive

The Indian barometers indices traded in the red in early trade, amid some monthly expiry selling in the index.

BSE Banks, financials, FMCG, and IT sector stocks have declined in early morning trade. The Foreign portfolio investors (FPIs) sold shares worth Rs 1740.71 crore; while domestic institutional investors (DIIs) purchase was seen of Rs 2091.07 crore in the Indian equity market on March 24. Brent crude is still trading at USD 119.4 per barrel. The Rupee has appreciated this morning by 0.18 per cent and trade at 76.20 

The BSE Sensex is slipped by 153 points and is trading at 57,442.60. The BSE MidCap on the contrary has moved up by 37 points and is trading at 23,913.45, while BSE SmallCap has scaled by 130 points and is trading at 28,023.02 levels. The stocks trading in green on the BSE Sensex are Tata Steel, Bharti Airtel, SBI Life Insurance, Kotak Mahindra Bank, and Mahindra & Mahindra. 

The Nifty 50 index also deals in red on down by 25 points and is now trading at 17,197.20 levels. Bank Nifty is also declined by 46 points and is trading at 35,480.60 levels. The gainers on Nifty 50 are Hindalco Industries, Adani Ports, Hero Motocorp, Bajaj Auto, and Tata Steel. 

The market outlook is positive as out of 2,792 stocks traded, the numbers of stocks advanced are 1,699 and 987 stocks that have declined in the morning session. Today, 149 stocks are locked up in the upper circuit and 112 stocks are locked in the lower circuit today. Also, 67 stocks are trading at a 52-week high and 16 stocks are trading at a 52-week low.