Markets extend losing streak, Sensex gives up 37,300 at opening

New Delhi: Markets extended their losing streak on Wednesday tracking weak global cues amidst foreign fund outflow.

The BSE Sensex opened at 37,257.55 from the previous close of 37,397.24. In early trade, the 30-stock index was trading 92.82 points or 0.25 percent lower at 37,304.42 while the NSE Nifty was down by 26.25 points or 0.24 percent at 11,059.15.

Major losers in the Sensex pack were Tech Mahindra, Axis Bank, HCL Tech, Infosys, TCS, NTPC, ITC, HDFC, ONGC, Kotak Bank, HUL and Bajaj Finance, falling upto 3.76 percent. On the other hand shares of Yes Bank, IndusInd Bank, Sun Pharma, Heromoto Corp, Bharti Airtel, Tata Motors, Tata Steel, Vedanta, Maruti, Bajaj Auto, Powergrid and ICICI rose upto 3.83  percent.

In the previous session on Tuesday, the 30-share index tanked 289.13 points or 0.77 percent to 37,397.24 while the NSE Nifty closed 103.80 points or 0.93 percent to 11,085.40.

Asian shares weakened in early trade on Wednesday, rattled by fresh trade war concerns following threats from President Donald Trump to Beijing, while increasing worries about a no-deal Brexit kept the pound under pressure, a Reuters report said.

MSCI`s broadest index of Asia-Pacific shares outside Japan was down 0.04 percent while Japan`s Nikkei slid 0.84 percent. Major Wall Street stock averages ended slightly lower on Tuesday, with the S&P 500 losing 0.26 percent, Reuters added.