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Sensex Trades Flat; Asian Markets Lower

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Benchmark indices opened flat in trade, even as Asian cues remained weak, following losses across the US markets.

Investors remained tentative ahead of the US Fed policy meet of June and also ahead of the referendum in the UK, which might even lead to exit of UK from the EU.

Sensex Trades Flat; Asian Markets Lower
There are worries that the US Fed would hike interest rates in either June or July. Stock markets have rallied in the last few years, following low interest rates in the US.
 

The Sensex was trading with losses of 26 points, while the Nifty dropped 5 points in early trade.

Stocks that led losers in trade included Sun Pharma, ONGC and Hindustan Unilever.

Quickheal Technologies which slumped almost 5 per cent in trade, recovered lost ground and was up almost 3 per cent.

ITC continued its superb run for a second successive day and was up 1 per cent, following 5 per cent gains seen on Monday.

Banking stocks continued to languish in the red with stocks like State Bank of India, Kotak Mahindra and IndusInd Bank among the early losers in trade.

About 300 shares advanced in early morning trade, while 221 shares managed to decline.

Meanwhile, the rupee opened at 67.63 to the US dollar, which was marginally weak over Monday's close.

Most of the Asian markets including the Korean Kospi and the Japanese Nikei were weak, following very sluggish cues from US and Europe.

GoodReturns.in

Read more about: sensex
Story first published: Tuesday, May 24, 2016, 9:38 [IST]
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