Nifty Opens The Day Flat; Asian Markets Lower

Benchmark indices opened the day flat in trade, even as most Asian markets were trading lower. Wall Street too closed the day flat ahead of the conclusion of the 2-day US Fed Meet on Wednesday. Any further hints of interest rates by the US Fed, might worry stock markets across the globe.

Shares in Crompton Greaves surged after the US-based WGI Emerging Markets Smaller Companies Fund acquired a 1.37 per cent stake in the engineering company.

Banking stocks saw some traction after the CPI inflation data came in much lower than expected. Bank of Baroda, State Bank of India and ICICI Bank were trading higher, on hopes that the Reserve Bank of India would cut interest rates.

Oil exploration stocks were trading lower after crude oil prices dipped below the $40 per barrel mark. ONGC and Cairn India were among the losers in trade.

Wipro was trading higher after the company said that it has bagged a multi-year engagement with NRGi, of Denmark.

Nifty stocks that gained ground in trade were BPCL, Bosch and GAIL. Meanwhile, markets across Asia were trading with losses. The Shanghai Composite saw cuts of more than 1 per cent, while the Hang Sang too was down more than 1 per cent.

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