Sensex Opens Lower As Asian Markets Fall On US Fed Rate Hike Fears

Business

oi-Sunil

By Sunil Fernandes

Published: Thursday, August 20, 2015, 9:25 [IST]

Benchmark indices opened the day lower as Asian cues remained weak following poor handover from the US.
US Markets plunged in trade even as the US Federal Reserve Minutes of Meeting hinted at a Sept US Fed Interest Rate Hike. A fall in commodity prices like oil pushed global markets lower.

The Sensex was trading with losses of 90 points, while the Nifty drifted lower by 30 points in early trade. Leading the set of losers from the Sensex and the Nifty were stocks like Cairn India and Hero Motor Corp.

Check Sensex and Nifty gainers

Shares of companies that received approval for a payment bank like Aditya Birla Nouva and Tech Mahindra were trading higher.

Amtek Auto which had plunged sharply on Wednesday, following worries over servicing of debt was once again down in trade.

Sun Pharma which received a US FDA approval for acne drug XiminoTM was trading higher. Banking stocks which have been seen some selling pressure in the past few trading sessions continued to see losses. Among the losers were

Metal stocks like Hindalco, NMDC and Tata Steel continue to head lower following a fall in global commodity prices.

Meanwhile, markets across Asia were trading in the red with the Shanghai Composite and the Hang Sang seeing deep cuts.

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