Markets open lower amid weak global cues

Commentary

oi-Sneha

By Sneha B K

Published: Thursday, May 3, 2012, 10:03 [IST]

The Indian indices opened lower on Thursday tracking weak global cues. Asian peers were in the red after jobless rate in Euro area rose to a record high in March 2012, raising concerns over the euro zone dampening economy.

At 9.45 am IST, the Sensex was trading at 17223.96 lower 77.95 points or 0.45% and the Nifty was trading at 5213.70 lower at 25.45 points or 0.49%.

Sluggish economic data from US and Eurozone dragged the global markets in the red.

Among sectoral indices on the BSE, all sectors were in the negative except Consumer Durables, IT and TECk in the early morning trade.

Among the stocks that gained today in early trade were HUL, Cipla, Sesa Goa, and Wipro.

While on the losing side, the stocks that failed to lure investors in the morning trade were the Hero Moto Corporation, Bajaj Auto, Maruti Suzuki and Jaiprakash Associates.

Hero Moto Corp plunged 6% after posting lower than expected Q4 results, which saw net its net profit at Rs 604 crore for the quarter ended March 2012.

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