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 even as the US Fed hinted that there maybe considerable time for interest rate hikes.

The Sensex was trading with losses of 78 points, while the Nifty fell 25 points in trade. Leading the set of losers on the Nifty was Infosys which fell 2 per cent, while other stocks that dropped were Hero Motor Corp and Hindalco.

Shares in Dabur India were trading higher after the company launched a wrist enabled Mosquitto repellant. Sun Pharma, Maruti, Wiproand Tata Steel were among the gainers in trade from the Nifty.

Mid cap stocks were trading lower with Bata India and Jubilant foods among the early losers. Bhushan Steel was out of the circuit filter and was trading marginally down. Other steel companies like Jindal Steel and Tata Steel were also trading higher.

Banking stocks were having a weak session in trade with private sector banks like ICICI Bank, HDFC Bank and Yes Bank among the losers.

Meanwhile, markets in Asia were also trading lower with losses seen in the Shanghai Composite and the Hong Kong's Hang Sang.

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