Markets open flat amid weak global cues

Sectorally, the trend is mixed with Nifty Metal off the most mirroring the weak global sentiment.

Dec 03, 2019 03:12 IST India Infoline News Service

Indian equity benchmarks saw a weak opening on Tuesday, on the back of negative global cues. Asian stock markets were trading lower on Tuesday after US President Donald Trump said that he will reinstate tariffs on US steel and aluminium imports from Brazil and Argentina.

The Sensex is currently down 72 points at 40,729,  and the Nifty is down 25 points at 12,023. (9.27 AM)

Sectorally, the trend is mixed with Nifty Metal off the most mirroring the weak global sentiment.

Biocon, Yes Bank, Bharti Airtel, and Kotak Mahindra Bank, M&M are among the top gainers Hindalco, Grasim, Vodafone Idea, and Motherson Sumi are the top losers.

Biocon is up over 1.5% after the company along with Mylan launched Ogivri (trastuzumab-dkst), a biosimilar to Herceptin (trastuzumab). 

Meanwhile, the rupee opened lower by 4 paise at 71.70/$ on Tuesday. India Vix was lower by ~3.1% at 13.76. 

Further, oil rose as traders looked for fresh signals on whether OPEC and allies would cut supply when they meet later this week.

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