Markets Open Lower On Weak Global Cues

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    Benchmark indices opened the day lower once again in trade, tracking weak global cues. The Sensex was trading lower by 53 points, while the Nifty fell 147 points in trade.

    Markets Open Lower On Weak Global Cues
    Leading the set of gainers were Asian Paints and Idea Cellular. Lupin which reported a poor set of results fell sharply by three per cent. The stock had already lost three per cent Wednesday after results disappointed.

    Other notable losers in trade were once again from the banking space with Bank of Baroda, Axis Bank and Punjab National Bank among the top losers. Almost all of the private sector and public sector banks lost ground.

    Oriental Bank of Commerce was trading marginally lower ahead of its results to be declared later today.

    Union Bank of India continued to gain ground with the stock continuing to see buying support following a spectacular set of results reported earlier this week.

    Infosys was responsible for much of the pressure on the indices after the stock dropped almost 2 per cent in trade.

    TCS, Tech Mahindra and HCL Tech were all weak in trade.

    Meanwhile, markets across Asia were trading weak with the Shanghai Composite and the Hang Sang among the losers in trade.

    Read more about: sensex nifty
    Story first published: Thursday, May 14, 2015, 9:39 [IST]
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