Indian stock markets opened on a dull note today (Sep 26), and continued to slip further because of massive selling by funds, sparked by failing trends in other Asian markets.

For the week ended September 13, the wholesale price index (WPI)-based inflation remained unchanged at 12.14%. However, inflationary figures during the same period of the last year were significantly lower at 3.51%.

Stock brokers said that the reports of declining trend in other Asian stock exchanges mainly activated selling on the domestic bourses.

The 30-share index, BSE Sensex opened at 13,481.85, down 65.33 points, whereas the NSE Nifty opened at 4108.75.

Technical analyst, Vishwas Agarwal said that above 13,555 level on the Bombay Stock Exchange (BSE) and with F&O Nifty above 4,141 levels, stock market is profitable for traders in the stock specific manner. 

N-deal and US bailout package to be cleared in the US Parliament are two major events, and after these events, equity market will see strength in a gradual manner.

Mr. Agarwal also said that stock market currently is in trading mood without major up and down directions being taken. 

“Lack of clarity, is keeping away traders whose confidence has been already shaken. Otherwise market is giving many opportunities to smart traders, trying to grab this opportunity where upside and downside of Nifty or Sensex is taking support, and one has to follow a strict stoploss schedule,” he added.