Markets have opened on a weak note on the back of negative global cues. The Sensex has opened weaker by 70 points at 18,624 and the 50-share Nifty has slipped 26 points to 5,647 levels.
selling pressure is visible across most of the sectors. Maruti Suzuki is the top loser among the Sensex stocks. The stock has opened weaker by 1.6% at Rs 1,300 on reports that it has raised wages by 50% for workers at its Gurgaon unit.
Tata Steel, Sterlite Industries, BHEL, Bharti Airtel, Hero MotoCorp, Tata Motors, Jindal Steel, Hindalco, Tata Power, SBI, ONGC and HDFC have also opened weaker by 1-1.5% each.
On the other hand, FMCG and healthcare stocks are witnessing buying in the opening deals. Cipla, HUL and ITC are the top gainers on the Sensex. NTPC, TCS and Wipro are also among the gainers.
On the sectoral front, the BSE metal index is the top loser. Index has slipped 1% or 107 points to 10,455. Capital goods, power, auto, bankex, PSU, oil & gas, consumer durables, realty and IT indices are also trading weaker by 0.3-1% each. At the same time, helathcare and FMCG indices are up 0.6 and 0.2% each respectively.