Sensex Opens Lower, Recovers; Kotak Up, Infosys Down

Sensex open: It opened 133.79 points (0.18%) lower at 72,990.04, against Friday’s close of 73,123.83. Nifty open: The Nifty50 opened 75.60 points lower at 22,524.40, against Friday’s close of 22,600. Later recovery: A later update showed the Nifty up 0.19% at 22,643.70 and the Sensex up 162.69 points at 73,286.50. Sector moves: Metals, pharma and media led the gains, while IT and FMCG stayed under pressure. Top gainer: Kotak Mahindra Bank led the Sensex pack, up 2.77% in early trade after its Q2 results.

, Axis Bank, ITC and Tata Steel were also among the gainers. Top loser: Infosys led the losers, down 3.07% in early trade after its guidance cut. HCL Tech, UltraTech Cement, Hindustan Unilever and NTPC also fell. Breadth: At the open, 1,841 stocks declined against 908 advancing on the NSE. The BSE Smallcap Select index was down 0.77%. Crude and rupee: Brent was near $114 a barrel after rising over 6% last week to a six-month high, and the rupee was expected to open weaker near ₹95 per dollar.