Markets open in red on negative global cues

Laggards in the Sensex pack were SBIN, Maruti, HDFC, Axis Bank, Powergrid, ICICI Bank, Heromoto Corp, coal India, ONGC, NTPC, ITC and Tata Motors, falling by upto 1.54 percent.

Markets open in red on negative global cues

Mumbai: Markets opened on a flat to negative note on Monday weighed by banking, auto and FMCG stocks amidst weak global cues.

The BSE Sensex was trading 46.89 points or 0.13 20.89 percent lower at 35,642.71. Similarly, the wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading 13.05 points or 0.12 percent lower at 10,808.80.

Laggards in the Sensex pack were SBIN, Maruti, HDFC, Axis Bank, Powergrid, ICICI Bank, Heromoto Corp, coal India, ONGC, NTPC, ITC and Tata Motors, falling by upto 1.54 percent.

Asian shares got the week off to a cautious start on Monday amid lingering concerns about escalating trade frictions

S&P500 mini futures fell as much as 0.5 percent in early trade while MSCI`s broadest index of Asia-Pacific shares outside Japan fell 0.2 percent. Japan`s Nikkei lost 0.4 percent.

MSCI`s gauge of stocks across the globe has fallen five of the last six weeks, including last week, when it declined one percent - its biggest weekly drop in three months as the threats of trade wars have become all the more real.

Chinese shares were among the biggest losers, tumbling 3.7 percent last week, as Trump put the heat on Beijing, threatening to hit $200 billion of Chinese imports with 10 percent tariffs.

With Reuters Inputs

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