Global cues drag markets; Sensex, Nifty open in red

Posted on by KNBT

NEW DELHI: Benchmark equity indices Sensex and Nifty saw their winning run snapped on Friday morning, even as they were guarding against any major correction.

30-share BSE Sensex made minor gains to hit the 38,050-mark in pre-opening session but slipped into the red as trading began. At 9.21 am, the gauge was down around 60 points.

The broader 50-share NSE Nifty too, was down about 0.20 per cent and testing the 11,450-levels.

Markets opened subdued on back of weak global cues. Asian stock markets fell on Friday amid heightened global trade tensions, while currency markets were whipsawed by a searing selloff in Russia’s rouble after the United States slapped on new sanctions.

Among sectors, IT and metal were the only sub-indices trading in green. Bank stocks were bleeding the most.

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