Sensex, Nifty Open Lower on Weak Global cues

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Benchmark indices fell in early trade as selling pressure continued for the third day in a row. The Sensex was trading lower by 10 points while the Nifty was down 2 points in early trade.

Among the early gainers in trade were stocks like Tata Power, Hindalco and Bharti Airtel. Nifty stocks that declined in trade were ITC, Hindustan Unilever and Maruti Suzuki.

Sensex, Nifty Open Lower on Weak Global cues
Banking stocks were trading flat with Punjab National Bank seeing good buying support in early trade. However, Federal bank and ICICI Bank were among the early losers.

BPCL which has been rallying ever since crude oil prices began falling gave up gains and was trading with marginal losses. Mid cap stocks also saw some buying interest with notable winners being Canara Bank, Havells, Siemens and Voltas.

Reliance Capital was up in trade after reports that it would gain from stakesale in

Meanwhile, the Nikkei was trading at one week low after weak closings in the US. Political concerns in Greece also began to weigh on global stock markets which have seen a sharp rally in the past few months.

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