Markets open in red on global cues


BSE benchmark Sensex rose almost 200 points in opening trade today only to turn cautious tracking negative global cues ahead of the US Federal Reserve policy announcement scheduled later in the day.

The 50 share Nifty of the National Stock Exchange (NSE) also turned negative and shed 33.06 points (0.31 percent) to 10646.05 after opening at 10700.45.

At 11:19 AM, the BSE Sensex was trading at 34,990, down 112 points, while the Nifty50 index was trading at 10,644, down 36 points.

So far, the major gainers on the BSE were Adani Ports, IndusInd Bank, ONGC, HDFC Bank, ICICI Bank and while Sun Pharma, Bharti Airtel, Bajaj Auto, Infosys and Yes Bank were the major losers.

Brokers said a weak trend in other Asian bourses as investors watched the outcome of trade talks between the USA and China, ahead of the April employment data to be released later in the day, influenced sentiments here. Find us on Facebook too!

Wipro fell the most among the Sensex counters, plunging 1.94 per cent, followed by Kotak Mahindra Bank at 1.90 per cent.

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The gauge later lost momentum to slip to 35,072.42 on profit-booking in recent gainers. Japan's Nikkei stock index slid 0.16 per cent.

Shares of HCL Technologies today slumped as much as 5 per cent in morning trade on the bourses after the IT firm posted 9.8 per cent decline in consolidated net profit for the quarter ended March 2018.

The broader markets too reflected a bearish trend for the second day.

In the broader market, the S&P BSE mid-cap declined by 1.16 per cent while the S&P BSE small cap fell 0.84 per cent.

The US dollar weakened during what was a choppy session a day after the Federal Reserve ended a policy meeting with no change in rates and a less hawkish statement than investors had anticipated.

Financial markets was shut yesterday on account of "Maharashtra Day".