Markets Open Lower; Sensex Dips Below 28,000 Points

Markets opened the day lower on the back of weak global cues, particularly shares from from Japan which where weak after shares on the Nikkei were hit by recession news.

Indices

Mid cap stocks also losses with stocks like Aurobindo Pharma, India Cement, Sun TV network and UPL among the losers. However, JSW Energy rose a huge 10 per cent in trade on reports that the company is to acquire 300 MW Baspa II hydro electric project from JP Power.

Banks saw some selling pressure in trade with private sector lenders like ICICI Bank and HDFC Bank falling in trade. State Bank of India continued to find buyers and was trading a huge 2 per cent higher.

Realty stocks also shed gains with DLF, DB Realty among the losers in trade.

Meanwhile, Asian markets were trading lower led by losses in the Japanese Nikkei and the Korean Kospi.

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