Markets Trade Lower After 4 Straight Days Of Gains

Benchmark indices opened the lower, after 4 straight days of gains, with most Asian markets also subdued, after overnight Wall Street gave-up gains and closed lower.

Most of Asia was trading weak, with stocks in Mainland China lower, while the Hong Kong's Hang Sang dropped nearly 1 per cent in trade.

The Sensex was trading with losses of nearly 200 points, while the Nifty was down 62 points in early trade. Shares in HDFC were down even as the company announced that it had raised Rs 14,000 crores through a qualified institutional placement.

Ashoka Buildcon was trading 3 per cent lower after the builder said it has reported a 6.7 per cent increase in its standalone PAT to Rs 69 crore for the first quarter ended June 30.

Shares in Symphony fell after the air cooler company announced a fall in its net profits for the quarter ending June 30. The stock was down 1 per cent at Rs 830.

Most of the heavyweight stocks like Reliance Industries, HDFC Bank and HDFC saw a drop in their share prices.

Among the early losers from the Nifty were Bajaj Finance, Hindalco, Bajaj Finserv, Grasim and Cipla. Select two wheeler stocks like HeroMoto Corp and Eicher Motors were among the early gainers in trade.