Markets open lower in early trade
15/11/2017 09:16
The key domestic benchmark indices opened lower in the morning trading session tracking weak cues and mixed trend across global peers.

The market may see stock specific movement in absence of any major development on the domestic or global front. On the economy front, the Government of India launched the BHARAT-22 Exchange Traded Fund (ETF), targeting an initial amount of about Rs 8,000 crore, which received an overwhelming response from investors and was subscribed six times on the opening day. This New Fund Offer is open till November 17, 2017.

On the corporate front, investors will react to earnings report of Bank of Baroda and Sun Pharma which posted lower-than-expected earnings for the second quarter ended Sepetmber 30, 2017. On the earnings front, companies including, Care Ratings, Somani Ceramics, HMT, Automotive Axles, Digjam and Golden Tobacco, will release their quarterly results today.

At 09:20 a.m, the Bombay Stock Exchange bellwether Sensex was trading at 32883.73 down by 58.14 points or by 0.18 per cent, while the NSE Nifty was at 10168 down by 18.60 points or by 0.18per cent.

The top gainers of the BSE Sensex pack were Hindustan Unilever Ltd. (Rs. 1300.00,+1.29 per cent), Asian Paints Ltd. (Rs. 1165.00,+0.93 per cent), NTPC Ltd. (Rs. 178.00,+0.59 per cent), Coal India Ltd. (Rs. 275.80,+0.47 per cent), Dr. Reddy's Laboratories Ltd. (Rs. 2330.00,+0.39 per cent), among others.

Meanwhile, Sun Pharmaceutical Industries Ltd. (Rs. 520.95,-0.99 per cent), Power Grid Corporation of India Ltd. (Rs. 205.25,-0.73 per cent), Tata Steel Ltd. (Rs. 680.40,-0.70 per cent), Lupin Ltd. (Rs. 830.00,-0.62 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 181.05,-0.52 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 614 shares traded, 305 shares advanced, 285 shares declined while 24 were unchanged.

On the global front, Asian stocks were trading lower after weaker crude oil prices took a toll on Wall Street, while the Wall Street closed lower in the previous trading session as General Electric shares plunged for a second straight day and a drop in crude oil prices hit energy stocks.