Markets open lower amid weak global cues; PSU, power sector major laggards

The Bank Nifty is lower by around 0.4 percent, while energy and infra sectors have declined the most.

New Delhi: Stock markets opened on a negative note on Monday on weak global cues with infra, power, PSU and consumer durables lagging the most among sectoral indices.

The benchmark BSE Sensex fall 100.54 points, or 0.29 percent, to 34,911.11 in opening session. Similarly, the NSE Nifty fell 26.55 points or 0.25 percent to 10,526.45.

NTPC fell the most by 3.01 percent among Sensex scrips, followed by IndusInd Bank shedding 2.17 percent.

Other laggards were PowerGrid, ICICI Bank, Hero MotoCorp, Adani Ports, Tata Motors, Vedanta, M&M, Asian Paint, Kotak Bank, Bajaj Auto, RIL, Tata Steel, HUL and HDFC, falling up to 1.95 percent.

On the other hand, Axis Bank, ONGC, Sun Pharma, SBI and Yes Bank were trading positive, rising up to 1.98 percent.

Meanwhile, foreign institutional investors (FIIs) sold shares worth a net of Rs 196.90 crore, while domestic institutional investors (DIIs) bought shares to the tune of Rs 852.99 crore.

The rupee depreciated 34 paise to 72.79 against the US dollar in early trade at the interbank forex market Monday on foreign fund outflows.

Asian stocks were hammered on Monday, a Reuters report said. MSCI`s broadest index of Asia-Pacific shares outside Japan stumbled more than 1 percent. Japan`s Nikkei sank 1.2 percent while South Korea`s KOSPI index plunged 1.8 percent.

With Agency Inputs