Indian equity benchmark indices opened with sharp cuts on Thursday with Nifty slipping below 16,000 mark after global markets fell on high US inflation data for April that dented investor confidence overnight.

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NSE

Investors also awaited April's retail inflation data, scheduled to be released at 5:30 pm today.

At 09:16 am, the 30-scrip Sensex was down 589.10 points or 1.09 percent at 53,499.29, and the broader Nifty was down 169.30 points or 1.05 percent at 15,997.80.

About 442 shares have advanced, 1,488 shares declined, and 65 shares are unchanged. India VIX - popularly known as the fear gauge - rose 4.7 percent and was near 24 level.

Among the major gainers on Nifty were PowerGrid, NTPC, ONGC and Bajaj Auto.

Maruti Suzuki, Bajaj Finance, HDFC Bank, L&T, Tech Mahindra, Hero MotoCorp and Bajaj Finserv were among major laggards.

In the broader markets, the BSE MidCap and SmallCap indices also opened weak and fell up to 1.6 per cent.

Sectorally, PSB index on the Nifty was the worst hit, falling 3 percent. All other pockets also suffered steep losses, down 1-2 percent.

Global Markets

Shares in Asia-Pacific declined in Thursday morning trade following overnight losses on Wall Street — after data showed the consumer price index stateside in April remaining near the highest level in more than 40 years.

The Nikkei 225 in Japan fell 1.57 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.44 percent lower.

Oil prices rose more than 5 percent on Wednesday after flows of Russian gas to Europe fell and Russia sanctioned some European gas companies, adding to uncertainty in world energy markets.

Brent crude settled up $5.05, or 4.9 percent, to $107.51 a barrel.

Wall Street stocks closed sharply lower and Treasury yields fell in Wednesday's volatile session as investors worried about the potential for an economic slowdown.

The Dow Jones Industrial Average fell 1.02 percent to 31,834.11 and the S&P 500 lost 1.65 percent to 3,935.18.

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First Published:May 12, 2022 9:50 AM IST