For Quick Alerts
For Daily Alerts

Markets open lower on US debt ceiling worries

Markets open lower on US debt ceiling worries
Markets opened the day lower on weak Asian cues, as investors fretted over the debt ceiling talks in the US. Read about debt ceiling here

The Sensex was trading lower by 180 points, while the Nifty lost 55 points in trade. Among the top losers in trade were the banking stocks. ICICI Bank was the top loser from the Nifty dropping more then 2.5 per cent, while other losers were Axis Bank, Bharti Airtel and DLF.

Heavyweights, ITC and Reliance also fell pushing indices lower. Infosys on the other hand gained ahead of its results to be declared later this week.

Other IT stocks like Tata Consultancy Services and HCL Tech were also trading strong along with Infosys.

PSU banking stocks along with the private sector counterparts also fell sharply in trade. Among the notable losers were Bank of Baroda, Union Bank of India, Oriental Bank of Commerce and Syndicate Bank.

Cement stocks were also not having a good day in trade with Ultratech Cement, ACC and Ambuja Cements among the early losers.

Sobha Developer was up for the second day in a row after reports that the company sold 1 million square feet of new spaces in July-September quarter.

Jet Airways dropped 2.4 per cent in trade despite reports of receiving clearance from the cabinet committee for economic for its deal with Etihad.

Apart from the IT stocks, shares that gained from the Nifty were Ranbaxy, Sesa Sterlite, Lupin and Tata Steel.

Meanwhile, markets in Asia were trading marginally lower ahead of the US debt ceiling talks. The Japanese Nikkei, the Hong Kong's Hang Sang and the Taiwan Weighted were all trading lower.

Story first published: Monday, October 7, 2013, 9:39 [IST]
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more