Markets open lower in early trade
16/04/2018 09:22

The key domestic benchmark indices opened lower in the morning trading session amid mixed cues from other Asian peers.

On the economy front, India's services exports in February dipped by 3.84 percent on monthly basis to USD 15.71 billion, according to RBI data.

Also, the Reserve Bank of India (RBI) may relax some of the stringent norms for treatment of bad loans that it announced in February without diluting their spirit. Also, according to a report non performing assets (NPAs) or bad loans in the banking sector are set to shoot up by at least Rs 8,000 crore.

Around, 3 companies are likely to report their March quarter numbers today including Jay Bharat Maruti, LKP Finance and Lloyds Metals and Energy.

At 09:20 a.m the Bombay Stock Exchange bellwether Sensex was trading at 34106.24 down by 86.41 points or by 0.25 per cent, while the NSE Nifty was at 10459.50 down by 21.10 points or by 0.20 per cent.

The top gainers of the BSE Sensex pack were Adani Ports & Special Economic Zone Ltd. (Rs. 383.95,+0.52 per cent), Bajaj Auto Ltd. (Rs. 2804.00,+0.52 per cent), ITC Ltd. (Rs. 261.45,+0.25 per cent), YES Bank Ltd. (Rs. 309.55,+0.05 per cent), among others.

Meanwhile, Infosys Ltd. (Rs. 1110.00,-5.05 per cent), Tata Motors Ltd. (Rs. 199.00,-1.87 per cent), ICICI Bank Ltd. (Rs. 284.50,-1.28 per cent), Tata Motors Ltd. (Rs. 352.10,-1.28 per cent), Wipro Ltd. (Rs. 290.00,-1.14 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 525, shares advanced were 197 while 312 shares declined and 20 were unchanged.

On the global front, Asian stocks were trading mixed, while the Wall Street closed lower in the previous trading session as results from big banks failed to stimulate and fear of broader conflict in Syria further unnerved investors.