The trends on Gift Nifty also indicate a tepid start for the Indian benchmark index. The Gift Nifty was trading around 19,648 level as compared to the Nifty futures’ previous close of 19,688.
IT stocks were the biggest losers in the opening trade, dragging the indices, after JP Morgan reiterated its negative stance on Indian information technology (IT) services.
Adani group stocks jumped in opening trade, as BSE raised the upper limit circuit of 4 of the group companies, namely Adani Transmission, Adani Green Energy, Adani Wilmar, and Adani Power.