Markets open lower, Asian markets weigh

Markets have started the trading session on a lower note tracking weak Asian cues.

The Sensex has opened lower by 145 points at 19,204 mark and the Nifty slipped by 45 points at 5,710 levels.

Bharti Airtel has dropped by nearly 2% post the announcement of Q1 numbers. The company has reported a 9.6% drop in net income at Rs 689 crore during April-June quarter.

The result marks the 14th consecutive quarter of decline in net profit for the country’s largest telecom operator by subscriber base.

On the global front, the S&P 500 and Nasdaq ended higher on Tuesday, lifted by gains in the technology sector, while potash shares were the day's big losers.

 
The tech sector index rose 0.7%, leading the S&P 500's advance. Facebook's stock jumped 6.2% to close at $37.63, within striking distance of its $38 IPO price.

The stock - the most actively traded on Nasdaq - rose as much as 7% to a session high of $37.96. Facebook's stock has gained 42% since the company reported blowout quarterly results last Wednesday.

Japan's Nikkei share average fell on Wednesday morning, as most investors adopted a wait-and-see stance ahead of another batch of key domestic earnings and the outcome of a Federal Reserve policy meeting for clarity on US economic stimulus.

The benchmark Nikkei declined 1% to 13,736.76 in midmorning trade, erasing much of its 1.5% advance on Tuesday, but was still on course for a first monthly gain in three months. The broader Topix fell 0.8% to 1,141.69.