Equity benchmark indices open lower tracking weak global cues as concerns over the US-China trade war are likely to weigh on investors’ risk appetite, also on the back of ongoing first-quarter earnings season and continued selling by foreign investors in the domestic equity.
On the sectoral front, losses were seen in information technology, pharma and automobile. Nifty Bank fell over 60 points to trade at 30,675.20.
The Sensex fell 82 points to 39,134 and the Nifty50 slipped 21 points to 11,667 levels. The Nifty MidCap index also slipped by over 42 points to trade at 17038.
Yes Bank tanked sharply with the stock down by over 12% in the opening trade. ONGC, M&M, Titan, Vedanta fell over 1% each. Wipro rose 1%, while Bharti Airtel, NTCP, Eicher Motors and HDFC Bank were other gainers.