Sensex, Nifty Trade Lower on Weak Global Cues

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Benchmark indices opened the day lower as weak global cues continued to weigh on the markets. The Sensex was trading lower by 77 points, while the Nifty was down 18 points in trade.

Sensex, Nifty Trade Lower on Weak Global Cues
Indices
Sensex28,892.97Sensex Quote28.26 [0.10%]
Nifty8,939.50Nifty Quote12.60 [0.14%]
Leading the set of losers from the Nifty were banking stocks like ICICI Bank, Yes Bank and State Bank of India. Most of the PSU banking stocks that were hammered out of shape saw some buying interest at lower levels. Punjab National Bank and State Bank of India some buying interest at lower levels.

Coal India was down another 2 per cent in trade after the government successfully completed its stake sale in the company. ICICI Bank which reported a poor set of results on Friday continued to grind lower in trade.

Bank of Baroda continue to fall and was down 2 per cent after a poor set of results declared on Friday. IT stocks were having a good day in trade with HCL tech trading higher by another 3 per cent in trade after the company reported a good set of quarterly numbers.

Other stocks that gained ground in trade were Sun Pharma which rallied a huge 3 per cent in trade.

Meanwhile, most of the Asian markets were trading lower on poor global cues. Markets in India are expected to be volatile ahead of the RBI's Monetary policy to be declared later on Tuesday.

GoodReturns.in

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