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Sensex Opens Lower Ahead of Infosys Results
The Sensex opened the day lower once again in trade as weak sentiments continued to prevail across the Indian markets.
Cairn India slumped 4 per cent as the company's results were short of expectations. Banking stocks were weak in trade with yes Bank losing ground despite a hike in FII limit. Indusind Bank, HDFC Bank and Axis Bank were all among the losers.
IT stocks saw some buying from lower levels with HCL Tech gaining along with TCS and Wipro.
Shares in Crompton Greaves lost as much as three per cent after the promoter Avantha Holdings has proposed to sell entire stake in Crompton Greaves Consumer Electricals.
The stock was down almost three per cent in trade.
Mid cap stocks also saw heavy selling pressure with favorites like Jubilant Foodworks and Jain Irrigation among the losers.
PSU banking stocks managed to hold ground in a falling market and were largely resilient. Stocks like IDBI Bank and State Bank of India gained ground.
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