Markets open lower amid weak global cues

Markets opened lower on Thursday, amid weak global cues, weighed down by selling pressure in financials and capital goods shares

Markets extended losses to open lower on Thursday, amid weak global cues, weighed down by selling pressure in financials and capital goods shares.

At 9:16AM, the 30-share Sensex was down 119 points at 18,682 and the 50-share Nifty was down 39 points at 5,634     

Asian stocks eased on Thursday amid the developments in an industrial zone between North Korea and South Korea while weakness in US markets also dampened sentiment. Japanese shares were trading weak as investors turned cautious ahead of the outcome of the Bank of Japan's two-day policy meeting.

North Korea restricted entry to a joint industrial complex it shares with the South Korea for a second day on Thursday, telling the association of companies that operate factories in the Kaesong industrial zone to complete pulling out by April 10.

Nikkei and the Kospi were the top losers in Asia, down over 1.5-1.7% each. Among other indices, Hang Seng, Shanghai Composite and Straits Times were down 0.1-0.3% each.

US stocks ended lower on Wednesday, with the S&P 500 index recording its biggest daily decline in more than a month, after a weaker-than-expected survey of private employers raised concerns about the strength of the economy. News that the Pentagon was sending a missile defense system to Guam in the coming weeks and remarks by Defense Secretary Chuck Hagel that North Korea posed a "real and clear" danger added to investor caution.

The Dow Jones industrial average ended down 112 points at 14,550. The Standard & Poor's 500 Index fell 17 points to end at 1,554, its biggest daily percentage decline since February 25. The Nasdaq Composite Index  ended down 36 points at 3,219.

Among the Sensex losers, ICICI Bank, HDFC Bank, HDFC and SBI were down 1-1.5% each. In the capital goods space, BHEL was down 2.1% and L&T lost nearly 1%. Index heavyweights Infosys and Reliance were down 0.6% each.