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Sensex Hits 3-Month Low; Nifty Below 7700 Points

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Benchmark indices continue to drift lower in trade hitting a fresh 3-month low, as weak global cues and worries over the GST Bill continue to worry investors.

If the markets decline today, it would be the 6th straight day of losses. The Sensex was trading with losses of 18 points, while the Nifty was down 7 points in trade at 7695 points.

Sensex Hits 3-Month Low; Nifty Below 7700 Points
Indices
Leading the set of losers was Dr Reddy's Labs, which fell 3 per cent despite the company submitting a response to the US Food and Drug Administration on Monday, after recent warning letters.
 

Bharti Airtel was the other stocks that saw selling pressure in trade, despite reports that it would launch 4g services in Rajasthan shortly. The stock was down more than 4 per cent.

Shares in Shemaroo were up after reports that the company plans to launch its movie premiere service 'Miniplex' on cable and online after partnering with two DTH players.

Midcap stocks saw further selling pressure, with the index down almost 1 per cent in early trade. Stocks like CESC, Reliance Infra and IDBI Bank were among the early losers in trade.

Banking stocks were seen trading flat, with select PSU banks seeing marginal gains. State Bank of India and PNB saw marginal gains in early trade.

Meanwhile, markets across Asia were trading with losses, with the Taiwan Weighted and the Jakarta Composite seeing cuts of more than one per cent.

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