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MARKETS LIVE: Sensex opens lower, Nifty below 11,650; Hindalco slips 2%

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SI Reporter  | New Delhi 

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EVENT HIGHLIGHTS

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Benchmark indices opened flat with a negative bias on Wednesday, taking cues from their Asian peers.

At 9:20 AM, the S&P BSE Sensex slid over 80 points, or 0.21 per cent, to trade around 38,860 levels with Hero MotoCorp, HDFC, Bharti Airtel, TCS and HDFC Bank among the top opening losers. The Nifty50, too, opened 25 points, or 0.21 per cent, down at 11,647.

In the broader market, the S&P BSE MidCap index was trading over 2 points, or 0.02 per cent, higher at 15,423, while the S&P BSE SmallCap index was ruling at 14,975, up 3.6 points, or 0.02 per cent.

Among sectoral indices, the Nifty Realty, the top gainer, was trading 0.82 per cent up.

BUZZING STOCKS

Shares of Praj Industries surged 8 per cent to Rs 149 on the BSE in early morning trade on Wednesday after the company announced it has signed a Construction License Agreement (CLA) with US-based Gevo Inc to commercialise the technology for the production of isobutanol using sugar-based feedstocks, such as juice, syrup, and molasses. READ MORE

GLOBAL CUES

Asian shares stepped back from eight-month highs on Wednesday as the IMF lowered its global growth outlook and as tensions over tariffs between the United States and Europe escalated.

MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.1 per cent, a day after it hit eight-month highs while Japan’s Nikkei lost 0.9 per cent.

(With inputs from Reuters)

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