Markets Open Lower; Metal Stocks Fall Sharply

Business

oi-Sunil

By Sunil Fernandes

Updated: Tuesday, October 13, 2015, 9:39 [IST]

Benchmark indices opened the day lower again with a fall in heavyweight Infosys, dragging the Sensex lower. The Sensex was trading lower by 24 points, while the Nifty dropped 3 points in trade.

Apart from Infosys shares the early losers were stocks from the metal space, which has had a tremendous run in the last week and also on Monday.

Check Sensex gainers and losers

Vedanta dropped 2 per cent, while Tata Steel was down 2 per cent and Hindalco dropped almost 4 per cent in trade.

Banking stocks managed to show some resilience in early trade with Yes Bank, Canara Bank, State Bank of India and Punjab National Bank among the gainers in trade.

Shares in Cox & Kings was up 2 per cent after reports that the company acquired LateRooms from TUI Group for Rs 85 crore.

Lanco Infratech was up after the company said that it had pre-closed its term loan with Yes Bank. Midcap stocks were also trading flat in line with the benchmark indices. However, stocks like Havells India, Cadilla Health and NMDC gained ground in trade.

Shares in TCS was marginally lower ahead of the company's results to be declared later today.

Meanwhile, markets across Asia were trading with losses with the Hong Kong's Hang Sang, the Shanghai Composite and the Japanese Nikkei among the early losers in trade.

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