Market slips at open, recovers from day's low

After opening with a gap down, markets have erased early losses and have recovered from day’s low.

The Nifty IT index is the only gainer among the sectoral indices, while the Nifty Auto and Realty index are the top losers. Support for Nifty remains around the 10,275-10,300 zone.

The India Vix has declined by 1%.

Following the opening bell, indices were dragged down by losses in the shares of public sector banks and energy companies. The Nifty PSU index slumped 1.3% today.

At 9:20 AM, the Nifty 50 was at 10,360 points, down 37.55 points or 0.4%. BSE-Sensex was at 33,745 points, down 100.75 points or 0.3%.

Shares of Gitanjali Gems fell 5% today on report that SEBI will revive probe in the company.

Shares of Bhushan Steel fell 3%, as the consortium of lenders had rejected a late bid by UK's Liberty House and asked Tata Steel to waive some conditions in its offer for the company.

Tech Mahindra (+1.29%), Sun Pharma, HCL Tech (+1.07%) and Wipro (+0.56%) were the top gainers on Nifty50.

Infratel (-2.29%), Hindalco (-1.48%), ONGC (-1.45%), Bosch (-1.42%), Ambuja Cements (-1.41%) were the top losers in today’s trade.

A total of 5 stocks registered a fresh 52-week high in trade today, while 41 stocks touched a new 52-week low on the NSE.

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