Markets Trade Lower: Reliance, Banks Drag

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    Benchmark indices were trading lower, with the heavyweights like Reliance Industries and ICICI Bank contributing to the fall.

    The fall was largely on the back of weak cues from Asian peers, as investors resorted to profit booking after a strong rally last week.

    Markets Trade Lower: Reliance, Banks Drag
    Index heavyweights such as Bharti Airtel, Reliance Industries, State Bank of India, Hero MotoCorp and Tata Steel opened lower. Markets across Asia were trading mostly lower as investors digested earnings reports, while caution prevailed as US President Donald Trump began his Asian tour.

    Shares in Torrent Pharma rallied as much as 3.5 percent to Rs 1,365, while Unichem Labs gained 1.5 percent after the former acquired the domestic branded formulations business of Unichem Laboratories Ltd. for Rs 3,600 crores.

    Jewellery maker, Titan gained as much as 22 per cent, after the company reported a strong set of earnings.

    Meanwhile, most Asian markets were down with major losers being the Japanese Nikkei and the Korean Kospi.

    Read more about: sensex nifty
    Story first published: Monday, November 6, 2017, 10:08 [IST]
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