Weakness prevails; Nifty fails to hold 8100: Markets are trading lower tracking weakness among global markets on the back of a firm US jobs data raising fear of Fed interest rate hike. Movement of rupee and crude prices coupled with progress of monsoons will dictate the trend on the bourses during the session. By 9:35 am, the Sensex was lower by 156 points at 26,612 and the Nifty dipped 50 points at 8,064 in the opening trades. Among broader markets, BSE Mid-cap and Small indices are down between 0.1-0.5%.
In other major development, on Friday, OPEC agreed to keep the production target of 30 million barrels of oil per day unchanged which is likely to add to the further decline in the oil prices due to oversupply glut.
In other major development, on Friday, OPEC agreed to keep the production target of 30 million barrels of oil per day unchanged which is likely to add to the further decline in the oil prices due to oversupply glut.
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