Markets open lower tracking global cues

Sensex opens down 48 points

Markets have commenced the trading session on a negative note tracking global cues. The Sensex opened down 48 points at 17456 levels while the Nifty at 5,317 levels down 16 points.

On the global front, US stocks fell for a second day on Thursday as the labour market data showed signs of weakness. The Dow Jones industrial average fell 0.5% to end at 12,964. The S&P 500 Index dropped 0.6% to 1,377 levels.

Asian shares slipped on Friday as disappointing US economic data stirred doubts about the strength of recovery. MSCI's broadest index of Asia Pacific shares outside Japan and Japan's Nikkei share average both edged down 0.2%.

Back home, the Nifty can face resistance around 5,350-5,365 and get some support around 5,315-5,300 levels, technical analysts suggest.