Markets Trade Weaker On muted Global Cues

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Markets opened the day weaker, as global signals were passive, following during the night losses on the Dow Jones INDEXDJX. Asian markets also were trading with losses, including the Nikkei and the Hang Sang as investor sentiments remain delicate amid worries over the impact of COVID19 outbreak on the Indian as well as the global economy.

At 9.55.-am, the BSE Sensex was trading lower with losses of 157-points, while the NSE Nifty lost 36-pts. Banking stocks continued to keep up weak for a second consecutive day.

Vedanta was the top gainer on the Nifty, surging 5.22-percent followed by UPL, L&T, PowerGrid and Reliance, while Infosys, TEchMahidra, Kotak Bank, Bharti Infratel, and TCS were among the top laggards.

Shares in Wipro dropped over 1-pc, after the company reported a fall in net profits and missed out dividends. Track the best intraday Nifty tips, Best Nifty option tips through the expert.

TCS, which is scheduled to report its quarterly earning later today, was also trading lower by 2.58-pc at this point. Meanwhile, COVID-19 cases in India crossed the 12,000 mark.

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