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Eurozone downgrade looms over. Nifty down

The Indian markets drifted lower in trade today, weighed down by S&P’s downgrade of nine European economies on Friday, a move that may have more symbolic than fundamental financial impact but which serves as a reminder that Europe’s economic woes are far from over.

BSE Sensex opened at 16,082, down 72 points and the Nifty at 4,837, down 29 points. The main draggers on the benchmark index are RIL and HDFC Bank.

Among the sectoral indices, Metal, bankex and Auto indices started off in the negative,down 1 per cent each. On the other hand, IT and FMCG indices are the only ones in the green, up 0.7 per cent and 0.3 per cent respectively.

The top gainers among the Sensex stocks are Bharti Airtel,Infosys and ITC which added 0.5-1 per cent

The losers from the pack include Hindalco, Tata Motors, Tata Steel, SBI and RIL, down 1 per cent each.



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