Sensex loses 71 points amid weak global cues in morning trade

MUMBAI: The key benchmark of the equity domestic markets opened with losses on Wednesday morning, tracking weak global cues. Better-than-expected corporate earnings haven't still lifted the investors' moods. Data on US inflation is expected later in the day which would impact the future course of interest rates across the world. Meanwhile, investors are in a "wait-and-watch" mode.

BSE Sensex went down 71 points to 61,689.38 and NSE Nifty lost 21 points to 18,244.35 in morning trade. The top gainers on Nifty 50 were IndusInd Bank, Tata Motors, Power Grid, Bajaj Auto and HCL Tech while the losers were UPL, Dr Reddy, SBIN, Grasim and Adani Ports.

In Asian markets, Hong Kong's Hang Seng went down 133 points, Japan's Nikkei lost 129 points, China's Shanghai went down 46 points and Thailand SET dropped 1 point as domestic markets opened on Wednesday.

In the US markets, Dow Jones lost 56 points, S-P 500 went down 18 points, Nasdaq dropped 77 points and NYSE declined 38 points.

In European markets, Amsterdam Exchange, BEL, CAC and Deutsche Borse were trading in the positive territory, FTSE lost 14 points and Madrid was also in the positive territory.

Rupee rose 5 paise to 82.01 against the US dollar in early trade on Wednesday. On Tuesday, On May 9, the Reserve Bank of India (RBI) said fees and charges payable in India on forex prepaid cards, store value cards, and travel cards must be denominated and settled in local currency.

Larsen and Toubro, Dr Reddy's Laboratories, Godrej Consumer Products, Bosch, Procter & Gamble Hygiene, Escorts Kubota, Sanofi India, and Max Financial Services, and several others are scheduled to release their March quarter earnings on Wednesday.