Markets Open Lower On Weak Global Cues

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Benchmark indices opened the day marginally lower on weak global cues from Asia and the US. The Sensex was trading with losses of 30 points, while the Nifty lost 10 points in early trade. Check Sensex gainers and losers

Banking stocks were weak in trade with ICICI Bank, Axis Bank, PNB and Canara Bank among the early losers in trade.

Markets Open Lower On Weak Global Cues
Indices
Sensex27,865.96Sensex Quote38.43 [0.14%]
Nifty8,611.15Nifty Quote19.90 [0.23%]
Tata Motors was trading flat ahead of its results to be declared later today. Dr Reddy's which rallied to a 52-week high on Thursday gave up gains and was trading lower. Vedanta and Tata Steel were the top Nifty gainers in trade.

IT stocks saw some buying support in trade even as the rupee gained ground against the dollar in trade. Infosys and Wipro were among the early gainers in trade.

PSU banking stocks which have seen a solid rally in the last few trading sessions on hopes of the government's capital infusion plan, lost ground and were trading lower.

Bank of Baroda, Union Bank and Bank of India were among the early losers in trade. Meanwhile, most of the Asian markets were trading lower after losses were seen across Asian markets following weak cues from across the US.

In fact, the NASDAQ saw a sharp sell off in trade following 1.6 per cent on poor earnings.

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