RIL bank stocks drag Sensex below 63000; Nifty tests 18700 - The Economic Times

Tracking negative cues from Asian peers, Indian equity indices opened in the red on Tuesday, dragged by Index heavyweight Reliance, banking and financial stocks.
The BSE Sensex was trading 281 points or 0.45% lower at 62,886. Nifty50 was trading at 18,673 down 82 points or 0.44% at around 9.30 am.

From the Sensex pack, HUL, M&M, IndusInd Bank, Maruti, Bajaj Finance, and HDFC opened with cuts, while Power Grid, Wipro, Titan, Kotak Bank, Asian Paints, and Tech Mahindra opened with gains.

IIFL Securities shares opened over 18% lower after India's market regulator banned the stockbroking unit of the company from onboarding any new client for two years, citing alleged misuse of client funds. Shares of HDFC Asset Management Company opened 9% higher amid block deals.

On the sectoral front, Nifty Auto fell 0.61%, and Nifty Realty dropped 0.44%. Banks, financial, FMCG, IT, media, metal, pharma, and healthcare sectors also opened with cuts. In the broader market, Nifty Midcap 100 declined 0.07%, and Nifty Smallcap 100 fell 0.08%.

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RIL, bank stocks drag Sensex below 63,000; Nifty tests 18,700 - The Economic Times
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