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Markets open marginally lower, Nifty below 10,800

Asian shares fell on Thursday and US stock futures dropped sharply after Apple Inc cut its revenue forecast.

Markets open marginally lower, Nifty below 10,800

New Delhi: After closing deep in the red yesterday, markets opened marginally lower on Thursday on weak Asian cues.

The BSE Sensex fell 89.94 points or 0.25 percent to 35,801.58 while the NSE  Nifty dropped 33.30 points or 0.31 percent to 10,759.20.

The biggest losers in the Sensex pack include Tata Steel, ONGC, Coal India, Axis Bank, IndusInd Bank, PowerGrid, HDFC duo, Bharti Airtel and Sun Pharma, falling up to 2 percent.

Among gainers were Hero MotoCorp, HUL, Infosys, Bajaj Finance and Tata Motors, rising up to 1 percent.

On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 621.06 crore Wednesday, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 226.18 crore, provisional data available with BSE showed.

Asian shares fell on Thursday and US stock futures dropped sharply after Apple Inc cut its revenue forecast due in part to weaker sales in China, adding to concerns about the slowing global economy, a Reuters report said.

MSCI`s broadest gauge of Asia-Pacific shares outside Japan slipped 0.2 percent early in the Asian day and losses were expected to mount when trading opened in more tech-heavy markets in the region. A jump in Australian shares, which rose 1.3 percent, helped to offset weakness elsewhere in the region after its currency fell to near decade lows, boosting exporters.

With Agency Inputs