The Indian markets opened on a cautious note ahead of the F&O expiry today. The BSE Sensex opened at 15,603, down 98 points and the Nifty opened at 4,677, down 30 points. Frustration over the Euro-zone debt crisis and weak Chinese factory data sent US stocks down for a sixth straight day on Wednesday.
The Dow Jones industrial average and the S&P 500 both lost nearly 2 per cent each. Asian shares fell on Thursday and the euro struggled close to a seven-week low to the dollar. Tokyo's Nikkei share average fell 1.5 per cent, while MSCI's broadest index of Asia Pacific shares outside Japan dipped 0.1 per cent.
Back home, analysts suggest that the Nifty could face resistance around 4,760 – 4,790, and on the downside it could seek support around 4,655 – 4,620.
Among the sectoral indices, BSE IT, Consumer Durables and Metal indices, down 1% each, are the leading the losses.
Financial Technologies, Tech Mahindra, HCL Technologies and Infosys, down 1-2% each, are the prominent losers from the IT sector.
C Mahendra Exports, Titan Industries, Videocon Industries and Rajesh Exports, down 1-4% each, are the major losers among the Consumer Durables stocks.
On the Sensex, Tata Steel, Infosys, Hindalco Industriesm Jindal Steel and BHEL, down 1-2% each, are the prominent losers.
Tata Power, Maruti Suzuki, Bharti Airtel, ITC and Mahindra & Mahindra, up 1% each, are the major gainers from the pack.
The overall market breadth is negative as 898 stocks have declined against 602 advancing ones, on the BSE.
