Sensex Opens Lower As Asian Markets Trade Weak

Business

oi-Sunil

By Sunil Fernandes

Published: Friday, February 19, 2016, 9:31 [IST]

Benchmark indices opened the day lower as global markets were trading weak, following a poor handover from the US.

The Sensex was trading lower by 123 points, while the Nifty was lower by 40 points. Bhel was the biggest loser from the Nifty stock, dropping 4 per cent, while the other top loser was Vedanta, which dropped as much as 3 per cent.

ONGC, which had rallied sharply in trade on Thursday as crude oil prices rallied lost ground and was trading lower.

Quick Heal, which made its debut on Thursday and lost as much as 20 per cent, lost another 2 per cent in trade, after reports of fresh IT demands on the company.

Cairn India shed 2 per cent after the government said that Cairn cannot be allowed to export excess crude from its Rajasthan facilities.

IT stocks were having a good session in trade with stocks like Infosys, TCS and Tech Mahindra among the early gainers.

Midcap stocks lost ground in trade, though Sun TV and Union Bank were among the early gainers. Shares in Punjab National Bank gained ground after reports that the bank was planning to sell stake in some subsidiaries and also real estate assets.

Meanwhile, markets across Asia were trading with losses, while US markets closed lower in trade.

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