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Markets open in red as global stocks tumble

The Nifty is trading at 10,818.15 in the morning.

Markets open in red as global stocks tumble

Mumbai: Markets opened on a negative note on Wednesday ahead of the RBI monetary policy that is scheduled to be announced later in the day.

The 30-share index was trading 209.22 points, or 0.58 percent, lower at 35,925.09. The index broke its six-session rising streak Tuesday, ending 106.69 points, or 0.29 percent, down at 36,134.31.

In similar movement, the NSE Nifty was trading 75.90 points, or 0.70 percent, lower at 10,793.60.

All sectoral indices were trading with losses, led by metal, FMCG, auto and banking stocks

Top losers include Tata Motors, IndusInd Bank, Tata Steel, Vedanta, M&M, ITC, Kotak Bank, Yes Bank, Wipro, TCS, Sun Pharma, HUL, ICICI Bank, falling up to 2 percent.

While, gainers include ONGC, Adani Ports, NTPC, SBI and Asian Paints, rising up to 1 percent.

On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 55.89 crore Monday, and domestic institutional investors (DIIs) were net sellers to the tune of Rs 521.38 crore, provisional data available with BSE showed.

Asian stocks fell on Wednesday, dragged by Wall Street`s tumble, a Reuters report said. MSCI`s broadest index of Asia-Pacific shares outside Japan was down 0.6 percent.

Australian stocks lost 1.3 percent after Australia`s third quarter growth data fell short of expectations. The Australian dollar was down 0.5 percent at $0.7307. Japan`s Nikkei fell 1.15 percent and South Korea`s KOSPI shed 1 percent.

The Dow retreated 3.1 percent and the Nasdaq sank 3.8 percent on Tuesday. Wall Street`s financial shares, which are particularly sensitive to bond market swings, dropped 4.4 percent.

With Agency Inputs