Sensex, Nifty open lower on weak global cues

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 Sensex, Nifty open lower on weak global cues
The Sensex and the Nifty opened the day lower on the back of weak global cues. The Sensex was trading lower by 25 points, while the Nifty lost 6 points in trade. Among the early losers was Tata Consultancy Services which shed more than 2.5 per cent, following a mixed set of results.

HCL Tech which had rallied sharply in trade on Thursday following a good set of numbers lost ground and was last trading lower by 0.5 per cent.

Reliance Industries was trading marginally higher ahead of its results. The stock was up slightly under 1 per cent in early trade.

Tata Motors was trading higher after its domestic sales of Jaguar Land Rover were encouraging. Banking stocks were slightly weak in trade with notable losers being ICICI Bank, IndusInd Bank and HDFC Bank.

Mid cap stocks were having a good session with notable gainers from the space being HPCL, Bata India and Bharat Forge.

PSU banking stocks saw some buying interest in trade with notable gainers being IDBI Bank and Union Bank of India.

Real estate stocks saw renewed buying interest after lower of inflation raised hopes that the RBI would hold interest rates, which is good for the sector. Among the stock that gained in trade were DLF and HDIL.

Meanwhile, markets across Asia were trading with losses, except the Hang Sang which was trading with gains.

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