Indian Markets Open Lower; Asia Mixed

Indian markets opened the day lower, even as Asian markets were trading mixed. Rising trade optimism between the US and China has pushed global markets higher. China has now announced a reduction in tariffs on 850 products.

The Sensex was trading with losses of 96 points, while the Nifty was trading with losses of 23 points. Shares in Yes Bank fell after being dropped from the Sensex with effect from today. The shares were down 1.5 per cent at Rs 50.60.

Vedanta shares gained despite being excluded from the Sensex. KEC shares were trading with gains after the company received order worth Rs 2,500 crores. The biggest drag on the Sensex was Reliance Industries whose shares dropped by 1.50 per cent.

Meanwhile, the rupee opened marginally lower by 6 paise at 71.61.