Markets open lower on weak global cues

Markets have opened the session on a lower note tracking losses in the US equity markets after the Fed released the minutes of its latest policy meeting stating that the conditions for a rate hike are approaching.  Meanwhile, weakness in the Asian peers amid Chinese economic slowdown dampened the sentiments.

At 9:15 AM, the Sensex opend 76 points lower at 27,846 and the Nifty lost 21 points to trade at 8,474.

GLOBAL MARKETS

Asian markets were trading lower on concerns of growth slowdown in China, the world's second largest. Shanghai Composite which had rebounded in late trades yesterday was down nearly 1% while Japan's Nikkei slipped 0.6%. Further, Hang Seng was down 1.5% and Straits Times eased 1.2%.

Majors US share indices ended lower on Wednesday after the US Federal Reserve which released the minutes of its meeting held in July cited worries about global growth. The Dow Jones lost 0.9%, S&P 500 dipped 0.8% and Nasdaq ended down 0.8%.

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(updated at 8:40 AM)

Benchmark share indices are likely to open lower tracking overnight losses on Wall Street and weakness in Asian peers.

At 8:40AM, the early indicator SGX Nifty was down 49 points at 8,457.

Sun  Pharmaceutical may gain after it announced  that the USFDA has approved its supplemental new drug application for Ximino extended release capsules dispensed for inflammatory lesions of non-nodular moderate to severe acne.

Adani Power may see some pressure amid media reports that the company could be diqualified from three key transmission projects, Sipat, Chhattisgarh A and B.

Jyoti Structures may firm up as the consortium of lenders led by State Bank of India have agreed for strategic debt restructuring.

Corporation Bank may see some action after the bank lowered the base rate by 10 basis points.

Mercator is likely to firm up after the company said its subsidiary Mercator Petroleum Ltd has made an oil discovery in its second well Jyoti-2, Block CB-ONN-2005/9 of Cambay Basin.

Oriental Green Power may be in focus after its board approved raising Rs 250 crore by issue of equity share to the promoter group on a preferential basis.

Dredging Corporation will be in action after the government plans to sell 14,00,000 equity shares representing 5% of the paid-up capital via offer-for-sale on Friday, August 21, 2015.

Amtek Auto may extend losses. The stock had plunged yesterday on concerns over rising debt and exclusion of the stock from the F&O segment on the NSE.

GLOBAL MARKETS

Asian markets were trading lower on concerns of growth slowdown in China, the world's second largest. Shanghai Composite which had rebounded in late trades yesterday was down nearly 1% while Japan's Nikkei slipped 0.6%. Further, Hang Seng was down 1.5% and Straits Times eased 1.2%.

Majors US share indices ended lower on Wednesday after the US Federal Reserve which released the minutes of its meeting held in July cited worries about global growth.  The Dow Jones lost 0.9%, S&P 500 dipped 0.8% and Nasdaq ended down 0.8%.