Markets open lower; Infosys dips again

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 Markets open lower; Infosys dips again
Markets opened the day lower once again on weak Asian cues as investors fretted over weaker then expected economic data from the US.

The BSE Sensex was trading lower by 66 points, while the Nifty was trading lower by 19 points. Infosys dipped once again in trade, after the 20 per cent loss on Friday and was trading lower by 0.80 per cent.

It was a bad start to the week for banking stocks which saw selling pressure in private as well as PSU banking stocks. Among the stocks that lost ground from the sector were HDFC Bank, ICICI Bank, Axis Bank and State Bank of India.

Development Credit Bank, however, rose after the bank said its profit doubled.

L&T Ltd, despite the engineering company on Friday announcing that it would acquire 50 per cent stake in L&T-Komatsu (LTK) held by Komatsu Asia & Pacific, a wholly-owned subsidiary of Komatsu, Japan.

Realty stocks were subdued in trade today following with Parsvnath, Sobha and Unitech all trading flat.
Shares in India's largest oil exploration company Oil and Natural Gas Corporation rose after reports that company was on the verge of discovering additional oil reserves in the Mumbai offshore area.

Metal stocks were down in trade with Hindalco, Sterlite and Sesa Goa dropping in early trade. Tata Motors slumped once again after the company reported the best ever sales for JLR. The stock was down 2.56 per cent in trade.

Meanwhile, markets in Asia were all trading with losses, with the Hong Kong's Hang Sang down more then 1 per cent.

Read more about: sensex, nifty
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