The markets have opened in the red with the Nifty down 20 points at 5729 and the Sensex started the day 73 points lower at 19,109. In the broader markets, the midcap index has started in the negative while the smallcap is flat at 9,088.
On the BSE sectoral chart, IT, Consumer Durables and FMCG are the only sectors that opened in the positive. Metal, Auto and Realty down 1% each are the top losers in the opening trades.
Wipro and Reliance Communications up 1% each are the top gainers in the opening trades. Infosys, Tata Power, Hindustan Unilever and TCS gaining 0.2% - 0.6% are the other significant gainers.
On the losing side are Tata Motors down 3% followed by DLF, ONGC, Tata Steel, Hindalco, Jindal Steel, BHEL, L&T, Jaiprakash Associates, SBI and HDFC shedding 1% - 2%. After Infosys, SAIL is down nearly 5% and is the top loser on the Nifty after declaring their results yesterday which didn't meet the street expectations.
The market breadth is very negative. 1065 stocks have declined while 542 have advanced.