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Markets Open Lower On Weak Global Cues.
Benchmark indices opened the day weak, as global cues were not very encouraging, with most Asian markets trading lower.
Hong Kong markets lost more than 2 per cent, after protestors were injured, when local police opened fire. This dragged the Hang Sang lower and also resulted in weak global cues.
The Sensex was trading lower by 93 points, while the Nifty opened lower by 30 points. Shares in Glenmark were down despite the company receiving ANDA approval for Adapalene and Benzoyl Peroxide Gel. The shares were last trading at Rs 282.
IDBI Bank saw a sharp rise in its share price of more than 3 per cent, despite mounting losses at the company. Net loss at the company was Rs 3,458.8 crore versus loss of Rs 3,602.5, while the net interest income was up 25.4 per cent at Rs 1,631.4 crore.
Shares in Maruti Suzuki were down as the company saw a cut in production for the month of October. The stock was last trading at Rs 7175.
Meanwhile, most Asian markets were trading lower with the Shanghai Composite and the Hong Kong's Hang Sang seeing the worst cuts.
