Markets open lower ahead of May F&O expiry

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Markets open lower ahead of May F&O expiry
Markets opened the day lower ahead of expiry for the May F&O segment. Weak global cues also saw the Sensex and the Nifty trading lower by 17 points and 44 points respectively.

Among the top losers in trade were Cipla, which lost 2.24 per cent, following a poor set of Q4 results. ONGC also lost ground as the company's profit was way below expectations. The stock was down more then 1.4 per cent in trade.

Tata Motors on the other hand gained ground after the company reported a better then expected profit. Mahindra and Mahindra was trading higher ahead of its results to be declared later today.

Among the top Nifty gainers in trade were Ranbaxy, Tata Power and BPCL.

The HDIL stock continued to drop after receiving a termination notice from Mumbai International Airport Limited (MIAL) for its slum rehabilitation project. The stocks was down another 2 per cent in trade today.

NMDC shares were up after the company reported better then expected numbers for the quarter ending March 31, 2013.

The bankex was down almost 1 per cent in trade led by losses in Union Bank, State Bank of India, Canara Bank and Bank of Baroda.

Sun Pharma which rallied almost 7 per cent in trade on Wednesday continued to trade higher. Meanwhile, markets in Asia were mostly trading lower followed by losses in other Asian markets. The Hang Sang and the Japanese Nikkei were both down in trade.

Read more about: sensex, nifty
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