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Friday, 26 September 2014

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Markets open lower amid weak global cues

Benchmark share indices have opened lower on Friday tracking weakness in their Asian peers and overnight sharp losses on Wall Street. Further, selling by funds and retail investors continue to weigh on the market sentiment.
 
On Thursday, Nifty September F&O series ended lower after seven consecutive positive series. The F&O turnover stood at Rs 5.3 lakh crore.
 
Meanwhile, foreign investors sold shares worth 8.51 billion rupees on Thursday
 
At 9.20 AM, the 30-share Sensex is down 40 points at 26,428 and the 50-share Nifty has shed 9 points at 7,903.
 
In the broader markets, the Mid-cap and Small-cap indices are trading lower by 0.3% each.
 
Market breadth is weak on the BSE with 320 advances and 572 declines.
 
Among Sensex stocks, Hindalco, Sun Pharma, Tata Motors, Sesa Sterlite, Coal India, BHEL, NTPC, Axis Bank, ITC and Dr Reddy's Labs are down 0.5-1% each in early trades.
 
Global Markets:
 
Asian shares got off to a rocky start on Friday after a sharp drop on Wall Street curbed enthusiasm for the dollar even after it touched multi-year highs in the previous session.
 
US stocks ended sharply lower, as Apple Inc broke under key technical levels after the tech giant withdrew an update to its new operating system. That pushed the S&P 500 to its biggest one-day decline since July.
 
Japan's Nikkei stock average skidded 1.6%, on track to shed more than 1% for the week, as a stronger yen exacerbated the risk-averse mood.

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