Sensex, Nifty open volatile as markets look for respite

The equity markets on Thursday opened on a flat note but kept shifting in the green and red zones in early trade.

The 30-share BSE Sensex opened with a gain of 56.55 points on 31,216.36 and the broader 50-share NSE Nifty went up by a negligible 0.65 points to start trading on 9,736.40.

However, the gains soon got erased as Sensex was down 45 points within 15 minutes of trading.

At 11.13am, Sensex gained 69 points to 31,229 and Nifty was up 8 points to 9,743.

The stock market has been under tremendous selling pressure, losing more than 1,200 points in the last one week. The analysts are divided on whether the market will bleed further and thus the lack of confidence in investors resulting in volatility is understandable.

In Thursday’s early trade, Nifty Midcap was down 0.14 per cent.

Asian Paints, Adani Ports, Indian Oil and BPCL were the early losers while all the major IT stocks were making gains.

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