Sensex, Nifty open marginally weak; Cairn India drops 4%

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Sensex, Nifty open marginally weak; Cairn India drops 4%
Indices
The Sensex and the Nifty opened the day marginally weak with Cairn India falling as much as 4 per cent in early trade after the company's Q1 results were a huge disappointment.

Wipro was trading higher ahead of its results to be declared later today. Other notable Sensex winners were Maruti Suzuki, Tata Power, ONGC and ITC.

Early Nifty losers in trade were ICICI Bank, Larsen and Toubro and Reliance Industries. L&T Finance Holdings fell after its results came worse than expected. The stock was down almost 2 per cent in early trade.

Mid cap stocks also saw some selling pressure with notable losers being Syndicate Bank, NHPC, IFCI, Voltas, Sun TV Network and Oracle.

TVS motors was trading steady ahead of its results to be declared later today. Banking stocks which have been in the limelight for the last few trading sessions were trading lower. Notable losers from the space were ICICI Bank, HDFC Bank, Yes Bank and Bank of Baroda. Realty stocks also saw some selling pressure with Sobha Developers and Oberoi Realty dropping almost one per cent in trade.

Meanwhile, markets across Asia were trading marginally higher in trade with the Shanghai Composite and the Japanese Nikkei trading with gains.

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