Markets Trade Lower On Weak Global Cues

Business

oi-Sunil Fernandes

Markets were trading weak, as Asian markets were lower ahead of the key RBI policy.

By Sunil Fernandes

Published: Tuesday, February 7, 2017, 9:53 [IST]

Domestic benchmark indices opened lower in trade, tracking weak cues from fellow Asian peers and negative closing of Wall Street in overnight trade, as traders maintained a wait-and-watch approach ahead of the Reserve Bank policy review tomorrow.

The traders are also expected to react to earnings reports as over 100 companies will unveil their quarterly results today, including BHEL, Punjab National Bank, Tata Steel, CEAT, Future Retail and Gillette India.

At 09:45 a.m, the Bombay Stock Exchange bellwether Sensex was trading lower at 28,394 pointsm down 47 points, while the NSE Nifty was down 8788 points, trading lower by 15 points.

The top gainers of the BSE Sensex pack were Wipro Ltd. (Rs. 464.70,+0.79 per cent), Tata Motors Ltd. (Rs. 528.40,+0.59 per cent), Tata Steel Ltd. (Rs. 475.00,+0.51 per cent), GAIL (India) Ltd. (Rs. 485.00,+0.40 per cent), Lupin Ltd. (Rs. 1500.00,+0.38 per cent), among others.

Meanwhile, ICICI Bank Ltd. (Rs. 288.90,-0.50 per cent), HDFC Bank Ltd. (Rs. 1311.35,-0.18 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 198.70,-0.15 per cent), Larsen & Toubro Ltd. (Rs. 1483.00,-0.13 per cent), Cipla Ltd. (Rs. 600.90,-0.09 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 495 shares traded, 363 shares advanced, 97 shares declined while 35 were unchanged.

GoodReturns.in