New Delhi: Stock markets opened lower on Wednesday on the back of weak global cues.
At 9.32 am the BSE Sensex was trading lower by 115.66 points or 0.34 percent at 33,741.12 while the NSE Nifty was trading at 10,388.65, down 38.20 points or 0.37% percent.
The rupee meanwhile opened 2 paise higher at 64.87 against the US dollar at the Interbank Foreign Exchange on selling of the greenback by exporters and banks.
Asian shares faltered amid fears of rising US protectionism as President Donald Trump fired his Secretary of State, regarded as a moderate in his administration, and sought to impose hefty tariffs on Chinese imports.
MSCI`s broadest index of Asia-Pacific shares outside Japan stumbled 0.7 percent, retreating from a 1-1/2 month high hit on Tuesday, with technology sector the biggest drag.
Japan`s Nikkei dropped 1 percent and South Korea`s Kospi index declined 0.6 percent. China`s SSE Composite index and the blue-chip CSI 300 slipped 0.3 percent each.
The weakness followed overnight losses on Wall Street, with the Dow off 0.7 percent, the S&P 500 down 0.6 percent and the Nasdaq Composite falling 1.0 percent.
With Agency Inputs