Stock market opens in red on weak global cues

The BSE Sensex was trading 119.55 points or 0.35 percent down to 33,725.31 in early morning trade.

New Delhi: Stock markets opened in the red on Thursday on weak global cues. The BSE Sensex which had closed at 33,844.86 points on Wednesday, opened lower at 33,817.09 points. Sensex was trading 119.55 points or 0.35 percent down to 33,725.31 in early morning trade.

At the National Stock Exchange (NSE), the broader 51-scrip Nifty, which had closed at 10,397.45 points on Wednesday, was quoting at 10,341.60 points, down by 55.85 points or 0.54 percent.

The rupee meanwhile weakened by 30 paise to trade at a three-month low of 65.06 against the US dollar in opening session due to increased demand for the greenback from importers amid heavy foreign fund outflows.

Most Asian share markets followed S&P 500 futures lower as speculation of faster hikes in U.S interest rates soured risk appetite globally.

MSCI`s broadest index of Asia-Pacific shares outside Japan eased 0.8 percent, while E-Mini futures for the S&P 500 lost 0.5 percent.

Japan`s Nikkei shed 1.2 percent, with office equipment maker Ricoh down more than 5 percent on news it was conducting impairment tests.