The market has started to slide in opening itself on weak global cues. The Sensex is down 127.53 points at 26933.51, and the Nifty slips 35.15 points at 8070.35. The Indian rupee slipped in early trade. It has openedlower by 27 paise at 60.92 per dollar against 60.65 Friday. In the currency markets, the dollar is flat against the yen, near a six-year peak. The euro is also steady at 1.29 to the dollar. Asian markets are in the red over weak Chinese data- August industrial output rose 6.9 percent on year, its slowest pace since 2008, while fixed-asset investment and retail sales both missed forecasts. However, overall trading volumes are light with Japan being closed for a holiday. Over the weekend, china released a raft of data that raised concerns about a weakening economy. On BSE, Midcap and Small cap are trading lower today with midcap down by 0.65% and Small cap is lower by 0.36% as we write this. On sectoral front, with an exception of health care all other sectors are trading in red today. Metal sector is performing the worst to trade lower by 1.38% at the time of writhing this.
Further the market breadth stands negative with 1033 shares are seen advancing against 1136 declining shares.
Further the market breadth stands negative with 1033 shares are seen advancing against 1136 declining shares.
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