Today's Stock Market Opening-Sensex off opening low, Nifty above 10,500; HPCL, BPCL, IOC crack 20%

Benchmark indices opened sharply lower on Friday morning after the government move raised fear of subsidy burden on PSU oil companies.

The 30-share BSE Sensex was down 228.38 points or 0.65 percent at 34,940.78 and the 50-share NSE Nifty fell 113.90 points or 1.07 percent to 10,485.40.

GAIL cracked 10 percent and ONGC plunged 12 percent. MRPL was down 10 percent. HPCL, BPCL and IOC crashed another 20-25 percent on government move.

Tech Mahindra, Hindalco, Reliance Industries and TCS were down 2-4 percent, but Infosys was up a percent.

Titan Company, IDBI Bank and IL&FS Investment Managers were gainers.

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