Markets slip in early trades; Infosys down 4%

The markets have opened in the negative territory tracking mixed global cues. In addition, the WPI and CPI numbers which are due to be released today will be keenly watched by the market participants.

 

At 9.20 AM, the Sensex is trading at 24,952 levels down by 72 points and Nifty is trading at 7,434 levels down by 25 points.

 

Tata Power, TCS, HDFC and M&M are the top gainers. However,  nfosys, BHEL, NTPC and Tata Steel are dwindling in red under selling pressure.

 

BSE Midcap and Smallcap are lower by 0.33%, respectively.

 

The Index of Industrial Production (IIP) for the month of May came in at 4.7 percent versus 3.4 percent month-on-month.  Growth in IIP numbers are good signs for capital goods sector and metal and mining sectors. 

 

Asian share markets edged higher on Monday as euro zone banking jitters faded, to be replaced by caution ahead of corporate earnings and a raft of global economic events including testimony from the head of the Federal Reserve.

 

MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was up 0.2 percent, w putting on 0.4 percent. Japan's Nikkei .N225 rose a modest 0.2 percent after several sessions of losses.

 

European markets had calmed on Friday as investors decided that losses associated with the founding family of Banco Espirito Santo (BES.LS) were unlikely to disrupt Portugal's financial system or revive broader worries about the bloc's weaker economies.