Indian markets stutter as broader indices open in the red. The Nifty FMCG, Bank and Financial Services sector indices opened 1% lower.
During the opening bells, Sensex was trading 0.29% or 161 points lower at 55,220.16. Nifty traded at 16,462.90 points, down 59.85 points, or 0.36%.
At around 9:39 am, BSE Sensex was trading at 55,351.94 points or 29.23 points or 0.053% lower. NSE Nifty traded 36.15 points or 0.22% lower at 16,486.60 points.
TCS (+0.94%) emerged as the top performer with a 1% jump, followed by Reliance (+0.93%). Tata Steel (+0.57%), Infosys (+0.49%) and Cipla (+0.49%) joined the rally with modest gains.
Hero MotoCorp (-2.53%) emerged as the biggest laggard, down about 3%. ONGC (-2.30%) and Apollo Hospitals (-2.00%) are down nearly 2% in early morning trade. SBI Life (-1.60%) and Tata Consumer (-1.47%) continued to drag the chart lower.
At the sector level, Nifty FMCG (-0.98%), Bank (-0.50%) and Financial Services (-0.76%) declined almost 1%. Nifty IT (+0.46%), media (+0.20%) and metal (+0.04%) weighted the chart with modest gains.
Global signals mirrored dismayed investor signals as US markets ended the day on a soft note. Dow Jones traded 176.89 points, or 0.54% lower at 32,813.23 points.
Asian markets pointed to negative global signals as all indices mark a position in the red. Hang Seng (-1.53%) weighed on the chart, falling about 2%. Nikkei (-0.14%) and Taiwan TSEC (-0.50%) traded marginally lower. Shanghai SE (+0.11%) traded with marginal upside potential.
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