Sensex, Nifty open in red, dragged by bank, IT stocks
Indian stock markets traded lower on Wednesday, following the negative global market sentiments. Banking and IT stocks observed significant selling. Power Grid, Bajaj Auto, Dr Reddys, and Britannia experienced gains, while Adani Ports, ICICI Bank, Hindalco, HDFC, and Indusind Bank were among the top laggards in the Nifty50 pack. Global markets also traded lower due to the uncertainties surrounding the US debt ceiling crisis. Meanwhile, the Indian rupee was at Rs 82.80 against the US dollar.