Markets Open In Red In Early Morning Trade

The benchmark indices Nifty and Sensex opened on a lower note in the early morning trade. The benchmark Sensex descended the psychological level of 27000 in the opening trade and tumbled by 203 points. On the similar lines Nifty was knocked down by 56 points. On Friday, the macro-economic data turned out to be very disappointing. The IIP in July grew at much slower rate than expected. IIP data rose to 0.5% in July compared to 3.9% in the previous month. The CPI data came in at 7.8% in August 2014, from 7.6% in July 2014. Speaking about the broader markets, BSE mid-cap was seen trading in red, down by 0.26%. However the BSE small-cap index was seen trading in positive zone, marginally up by 0.16%.

Tracking the momentum of the sectoral indices, all the indices were seen trading in red except for BSE healthcare and consumer durables. The BSE healthcare index was up by 0.31% and consumer durables index was trading up by 0.44%. The gainers in today's trade included CIPLA, Lupin, and NMDC which was seen trading up by 2.56%, 1.38% and 1.05% respectively. However shares of Yes bank were down by 3.90% after RBI said FII's need RBI's nod to buy shares. The other losers in today's trade included, Hindalco and GAIL which were seen trading down by 2.91% and 2.36% respectively.

Further a mixed trend was seen in the Asian markets. Japan's Nikkei was up by 0.25%. However, Hong Kong's Hang Seng and China's Shanghai was seen trading in a negative zone, down by 0.89% and 0.41% respectively.