Sensex slips 269 points, Nifty trades at 18,557 ahead of Q4 GDP data; Reliance, SBI drag

Domestic markets opened lower on Wednesday ahead of Q4 GDP growth data and mixed global cues. BSE benchmark Sensex slipped 159.07 points, or 0.25 per cent to open at 62,810.06 while broader NSE Nifty50 tanked 32.30 points, or 0.17 per cent at 18,601.55.

By 9.30 am, Sensex slipped 269.39 points, or 0.43 per cent to trade at 62,699.74, while Nifty50 was down 76.55 points, or 0.41 per cent to 18,557.30.

Metal stocks were the biggest drag in the opening trade, as the sector slipped 0.87 per cent, followed by the PSU Bank index at 0.86 per cent. Nifty oil & gas index was down 0.61 per cent, while Nifty Bank slipped 0.42 per cent.

Adani Enterprises was the top loser in the opening trade, followed by SBI, Reliance Industries, Divis Lab, IndusInd Bank, HDFC Bank, Hindalco, ONGC, Coal India, JSW Steel, and Adani Ports.

On the other hand, Tata Motors, Apollo Hospitals, HCLTech, Asian Paints, Sun Pharma, Eicher Motors, BPCL, and HDFC Life were the top gainers in the opening trade.

Adani group stocks were trading lower today, as Adani Enterprises slipped 1.41 per cent, Adani Transmission tanked 2.86 per cent, while Adani Total Gas was trading 2.81 per cent lower.

The stocks were trading lower ahead of the MSCI index rejig, as the latter has said that Adani Transmission, and Adani Total Gas will be excluded from the index.

Meanwhile, Adani Ports shares tanked 0.82 per cent after the company reported a 5.1 percent rise in its consolidated net profit at Rs 1,158.9 crore for the March quarter.

Broader markets also extended losses, as the Nifty 100 was down 0.40 per cent, the Nifty 200 tanked 0.37 per cent, and the Nifty 500 slipped 0.33 per cent.