Stock Market Today Live Updates: Nifty, Sensex recover from opening low; India VIX up 1%

In contrast with trends emerging from last three sessions, Indian Frontline indices opened with minor cuts with Nifty opening below 22,300 & Sensex around 73,200. BSE Sensex inched 286.85 or 0.85 per cent lower at 73,225.00 while Nifty inched 71.30 points, or 0.32 per cent lower at 22231.20.

The gap-down opening of Sensex and Nifty comes despite GIFT Nifty future indicating a gap-up start for Sensex and Nifty. GIFT Nifty futures are trading 29.00 points, or 0.13 per cent higher at 22,422.50.

Among sectoral indices, auto, PSU Bank, FMCG, Metal, Energy remained in green while IT, Pharma, Realty, traded in red. PSU and PSE indices remained the biggest gainer with over a per cent gain. After closing in red on Monday and Tuesday, Nifty Bank continues to trade in negative territory with all majors banks, except SBI, in red. Shares of SBI is trading 12.60 points, or 1.57 per cent higher at 814.50.

Broader market, in contrary to frontline indices, inched marginally higher to remain in green territory.

International crude oil prices fell after data from the American Petroleum Institute showed an increase in US crude and fuel stockpiles along with Gasoline and distillate fuel inventories, Reuters reported. As per the figure, US crude stocks, an indicator of weak demand, rose by 509,000 barrels in the week ended May 3.

Brent crude oil futures fell 21 cents, or 0.3 per cent, to $82.95 a barrel. US West Texas Intermediate crude futures fell 13 cents, or 0.2 per cent, to $78.25 a barrel. Both trans-atlantic benchmarks fell marginally in the previous session on signs of easing supply tightness.