Mumbai, Aug 28
After remaining shut for a day on account of Ganesh Chaturthi, the domestic benchmark indices opened in the red on Thursday after the US imposed 50 per cent tariffs on Indian goods.
The BSE Sensex dropped by 624 points, or 0.77 per cent, to touch 80,162 in the early trade. The Nifty 50 declined by 183.85 points, or 0.74 per cent, to 24,528 points.
Broadcap indices were firmly in red as Nifty Midcap 100 fell 1.00 per cent, while Nifty Smallcap 100 was down 1.12 per cent.
Among sectoral indices, Nifty IT lost 1.24 per cent, Nifty Pharma was down 0.97 per cent, and Nifty Realty slipped 1.42 per cent. All sectoral indices were in the red.
In the Nifty pack Hero MotoCorp led the gainers with 1.68 per cent surge followed by Asian Paints, Cipla, Tata Consumer and Titan Company. Major laggards were Shriram Finance (down 2.85 per cent), ICICI Bank, HCL Tech, Jio Financial, NTPC, Hindalco Industries.
"On the technical front, a decisive move above 24,850 could pave the way for an upside toward 25,000 and 25,150 zones. The immediate support is placed at 24,670, followed by 24,500 levels that may attract fresh long positions," said Amruta Shinde from Choice Equity Broking.