Markets open lower; metal stocks dip

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 Markets open lower; metal stocks dip
Markets opened the day lower as operators chose to book profit in counters that gained over the last 3 days.

The Sensex was trading lower by 33 points, while the Nifty lost 16 points in trade. Stocks that had rallied in the last few trading sessions, including Reliance Industries shed gains today. Top Nifty losers in trade were Bharti Airtel, Jindal Steel, ITC, Jaiprakash Associates and HDFC Bank.

PSU banking stocks that had rallied in the last few days saw some selling pressure with notable losers from the space being Bank of Baroda, Bank of India and Canara Bank.

The Bank Nifty was trading weak and was down 0.21 per cent. The real estate pack continued to find buyers with notable gainers being HDIL, Unitech and Sobha Developers.

Tata Motors shares were trading lower after the company saw a sharp dip in its domestic sales. Tata Power on the other hand fell more then 1 per cent after after the global credit rating agency Moody's Investors Service downgraded the outlook on India's largest private power producer.

Top gainers from the Nifty basket were IDFC, HCL Tech, Ranbaxy and Reliance Infra. Meanwhile, markets in Asia were trading mixed with the Shanghai Composite and Hong Kong's Hang Sang Trading lower, while the Nikkei was trading with gains.

GoodReturns.in

Read more about: sensex, nifty
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