Markets open flat; bank stocks major losers

Major losers were were  Hindustan Lever, Tata steel, Asian Paints, HDFC, Wipro, Axis Bank, Dr Reddy, Coal India, HeroMoto Corp, Adani Port, Infosys , ICICI Bank losing up to 1.76 percent.

Markets open flat; bank stocks major losers

New Delhi: The benchmark BSE Sensex opened flat on Monday while the NSE Nifty retained 10,500 on weak global cues.

The 30-share barometer was trading lower by 25.95 points, or 0.08 percent, at 34,389.63 , with banking, auto and IT stocks losing the trend.

The NSE Nifty was down 1.70 points to 10,562.35.

Major losers were were  Hindustan Lever, Tata steel, Asian Paints, HDFC, Wipro, Axis Bank, Dr Reddy, Coal India, HeroMoto Corp, Adani Port, Infosys , ICICI Bank losing up to 1.76 percent.  Gainers included IndusInd Bank, Yes Bank, TCS, Bharti Airtel, L&T, M&M, Kotak Bank, Sun Pharma, HDFC, RIL, ONGC, NTPC, Bajaj Auto and Maruti Suzuki, rising up to 2 percent.

Falling for the sixth consecutive session, the rupee weakened by 4 paise to 66.16 against the US dollar in opening trade at the interbank foreign exchange market today, amid foreign capital outflows.

Forex dealers said, sustained demand for the American currency from importers and dollar strength against other currencies overseas, bolstered by rising US bond yields, weighed on the domestic unit.

Asian stocks dipped on Monday as investors braced for a bevy of earnings from the world`s largest corporations, while keeping a wary eye on U.S. bond yields as they approach peaks that have triggered market spasms in the past.

With Agency Inputs

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