The markets opened in the red ahead of the GDP numbers for the first quarter which will be announced later in the day. The BSE benchmark index, Sensex opened down 31 points at 17,510 and the Nifty gave off 18 points at 5,297.
Stocks in the US and Asia have also seen declines. Traders in the US are looking ahead for reforms being announced in Bernanke’s speech scheduled to be made today.
Except Health Care index, all the other sectoral indices on the BSE started in the neagtive. Power, IT and Metal slipped 0.4-0.6% and were the major draggers in the opening trades. Meanwhile, Health Care index was up 0.2%.