Markets Open Lower On Weak Asian Cues

Business

oi-Sunil

By Sunil Fernandes

Published: Tuesday, October 27, 2015, 9:28 [IST]

Benchmark indices opened the day lower on weak global cues. A drop in commodity prices pushed share prices lower in Asian trade. The Sensex was down 104 points at 27,256 points, while the Nifty fell 31 points in trade.

Shares in Maruti were trading higher ahead of its results to be declared later today. The company is expected to post a superb set of quarterly numbers.

Eros Media, which plunged almost 20 per cent in trade on Monday, saw its share price rally after the company's parent company shares saw some recovery in trade on the New York Stock Exchange.

Axis Bank was trading lower ahead of its results to be declared later today. Top Sensex gainers in trade were L&T and Dr Reddy's Labs.

Metal stocks continued to fall in line with lower commodity prices in the US. Shares in Raymond Ltd fell after reports of a strike at the company's Chindwara unit.

Midcap stocks also lost ground in line with index stocks. Notable losers from the mid space were ABB, Jindal Steel and Just Dial.

Banking stocks were trading lower with notable losers being PSU banking stocks like PNB, Bank of Baroda and Canara Bank.

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

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