Sensex, Nifty open marginally lower on weak Asian cues

By Sunil Fernandes
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    Sensex, Nifty open marginally lower on weak Asian cues
    The Sensex and the Nifty opened the day marginally lower on the back of weakish global cues, after hitting new record highs on Monday.

    Leading the set of Sensex losers in trade were ICICI Bank, Tata Motors and State Bank of India. Shares in M&M bucked the trend and was higher after reports that the company is planning for a few launches in the next 18-24 months.

    Oil and gas were steady after reports that a four-member panel of secretaries will submit its report on a new gas pricing mechanism by Wednesday.

    Mid cap stocks were extremely flat with the index showing no gains. However, individual shares like HPCL and Havells India gained ground.

    A few stocks like IFCI and Karnataka Bank, however lost ground. Bhushan Steel was once again locked at the upper end of the circuit filter with only buyers in the counter.

    PSU banks like Andhra Bank and Bank of Baroda continued to trade lower. Private sector banking stocks like ICICI bank and Yes Bank saw some profit bokking in early trade.

    Meanwhile, most of Asia was trading flat to negative in trade with the Shanghai Composite and the Hong Kong's Hang Sang marginally lower.

    Story first published: Tuesday, September 9, 2014, 9:27 [IST]
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