Markets Open Marginally Lower On Weak Global Cues

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Benchmark indices opened the day lower, as global cues remained subdued, with most Asian markets trading with modest losses.

The Sensex was trading with losses of 70 points, while the Nifty was down 24 points in early trade. Leading the set of losers from the Nifty were Bosch, Maruti Suzuki and Adani Motors.

Markets Open Marginally Lower On Weak Global Cues
Vedanta and Tata Motors continued to drop following their exclusion from the Sensex with effect from Dec 2015. Banking stocks were weak in early trade with ICICI Bank and Federal Bank among the gainers.

Nestle gained after reports that the company has begun manufacturing Maggi noddles at its Uttarakhand plant. Mid cap stocks also saw good buying interest with stocks like GMR infra rallying  5 per cent and jus Dial up 3 per cent in early trade.

IT stocks saw some selling pressure with stocks like Infosys and TCS seeing selling pressure. Bank of India shares were trading higher, after capital raising plans by the bank.

Meanwhile, markets across Asia were trading with marginal losses, though the Nikkei was trading with gains.

Read more about: sensex, nifty
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