Markets open flat on subdued global cues

Last Updated: Wednesday, August 29, 2012 - 09:57

Mumbai: The BSE benchmark Sensex shed over 56 points in early trade Wednesday, declining for the fourth day in a row, on sustained selling by funds and retailers due to concerns over delay in economic reforms.

The 30-share barometer, which has lost nearly 219 points in the previous three sessions, moved down further by 56.27 points, or 0.32 percent, to 17,575.44, with auto, metal and IT sector stocks leading the fall.

Similarly, the wide-based National Stock Exchange index Nifty declined by 13.95 points, or 0.26 percent, to 5,320.65.

Trading sentiment remained bearish on increased selling by funds and retail investors on concerns over the delay in economic reforms after Parliament failed to transact any business for the sixth straight day yesterday as BJP continued its demand for resignation of Prime Minister Manmohan Singh.

In Asian region, Hong Kong's Hang Seng down by 0.06 percent, while the Japan's Nikkei was up by 0.28 percent in early trade today.

The US Dow Jones Industrial Average ended 0.17 percent lower in yesterday's trade.

PTI

First Published: Wednesday, August 29, 2012 - 09:57
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