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Markets open lower on weak Asian cues


 Markets open lower on weak Asian cues
Markets opened the day marginally lower on weak Asian cues. Lack of hints on the possible tapering-off of QE3 in Bernanke's speech also affected sentiments.

The Sensex was trading marginally lower by 27 points, while the Nifty shed 8 points in trade. Among the early Nifty losers were BPCL, Tata Motors and Tata Steel.

Banking stocks did not get off to a good start with ICICI Bank shedding 1.5 per cent in eraly trade, while other notable losers were IndusInd bank and Yes Bank.

PSU banking stocks were also trading marginally lower with notable losers from the space being Bank of Baroda, IDBI Bank and Union Bank of India.

Technology stocks were having a mixed session in early trade with Infosys Technologies seeing some early selling pressure, while HCL Tech and Tata Consultancy Services were trading higher.

Maruti Suzuki continued to have a good session in trade gaining another 1 per cent, following sharp gains witnessed in the last few trading sessions.

Heavyweights, ITC was trading marginally higher, while another heavyweight reliance Industries saw some selling pressure in early trade.

Mid Cap stocks were having a good session with Jain irrigation gaining more then 4 per cent in early trade, while other notable gainers were Siemens and Hexaware.

Top Nifty gainers in trade today were DLF, Jindal Steel and NMDC.

Meanwhile, markets in Asia were trading marginally lower, on lack of hints from Federal Reserve Chairman Ben Bernanke on the timing of the tapering. Most of the indices, except the Hang Sang were trading with gains.

Story first published: Wednesday, November 20, 2013, 9:33 [IST]
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