Equity benchmark indices snapped three days winning streak and opened lower on Wednesday tracking muted global cues ahead of the release of key macroeconomic data on industrial growth and inflation. HDFC twins, Infosys
, TCS and ICICI Bank were among top losers on the Sensex chart.
was trading at 39,667 levels, down 287 points, while the Nifty
was trading lower 83 points at 11,882 levels. The market breadth was negative on the NSE with 623 shares advancing, 1,007 shares declining, and 466 remaining unchanged.
s shares fell 2.5% in the morning trade after the rating agency Moody’s put the bank’s rating under review for downgrade on account of its exposure to finance companies.
Shares of Tata Steel
gained 1% on the NSE. The European Commission formally announced its decision to prohibit the proposed European steel joint venture between Tata Steel and thyssenkrupp AG.
The Volatility gauge, India VIX was up 0.17% at 14.51.
The most active stocks on the NSE are Yes Bank, Infosys, and Indiabulls HF.
Meanwhile, oil prices fell weighed down by a weaker oil demand outlook and a rise in US crude inventories despite growing expectations of ongoing OPEC-led supply cuts.
On the currency front, the rupee opened flat at 69.45 per dollar against the previous close of 69.44/$ amid US-China trade tensions.