The global cues continue to cast a shadow on the trading activity back home. With Wall Street having another disappointing day and the Asian markets failing to hold up, our markets have opened on a subdued note. The Sensex is quoting at 17037, lower by 50 points and the Nifty has managed to hold on to the 5100 level and is quoting at 5108, down 16 points.
The US markets continued their poor run, with the Dow losing 58 points and Nasdaq shedding 21 points.
And the Asian markets took it from there. The Hang Seng weakened by 106 points and Nikkei was lower by 348 points in early trades.
The major losers on the Sensex are Sterlite (weakened by 1.6% at Rs 737), Hindalco (lost 1.5% at Rs 161) and Bharti (shed 1.2% at Rs 293). The other significant losers are Hero Honda, DLF and Wipro. And RIL has edged lower by 0.3% at Rs 1017.
Among the gainers, Jaiprakash Associates has strengthened by 1.1% at Rs 135, Hindustan Unilever has added 0.8% at Rs 230 and ONGC is up 0.6% at Rs 1039.
The market breadth is positive though. Out of 1642 stocks traded on the BSE, there are 1042 advancing stocks as against 536 declines.
