Sensex Trades Lower Despite Firm Asian Markets

After the second largest fall witnessed on the Sensex on Monday, benchmark indices were once again trading lower, despite firm Asian markets.

Overnight, stocks fell sharply on Monday across the US markets, with the Dow Jones suffering its worst day since the "Black Monday" market crash in 1987. This was despite the US Federal Reserve cutting interest rates to near zero.

The Sensex was trading lower by 118 points, while the Nifty was down 11 points. Leading the set of losers were some of the marquee names from the banking space, including the likes of IndusInd Bank and HDFC Bank.

Yes Bank continued to trend higher and was locked at the upper end of the circuit filter with only buyers in the counter. Metal stocks which were hammered out of shape, were Tata Steel, Vedanta and JSW Steel.

Meanwhile, the Indian rupee also opened strong by 14 paise at 74.13 to the US dollar.