The Indian markets opened on a cautious note Wednesday, taking cues from weak Asian markets as concerns related to the Greek debt crisis and the stock market turmoil in China sapped investors' appetite for risk.
EU leaders gave Greece until Sunday to come up with credible new proposals in return for financial aid that will save it from plunging into economic turmoil. The sell-off in China is so bad that over 1,200 companies have halted trading to prevent investors from selling their shares.
Closer home, the benchmark BSE Sensex is currently down 230 points or 0.82 percent at 27,941. The broader Nifty index is down 70 points or 0.83 percent at 8,440, with Yes Bank, Tata Steel, Hindalco, Vedanta and Tata Motors losing 2-4 percent.
United Spirits is edging down 0.2 percent after selling its entire 3.21 percent stake in United Breweries for Rs 872 crore.
CMC is declining half a percent after its Q1 consolidated net profit declined 4 percent from a year earlier.
OnMobile Global is moving down 1.5 percent after launching an avant-garde digital music store for Grameenphone, a leading telecom operator in Bangladesh.
Crompton Greaves is rallying 3.5 percent. The company has signed a global supply agreement with cement major Lafarge for electrical motors.
Electrosteel Steels is rising 1.3 percent on reports lenders are looking at the possibility of taking control of it under the strategic debt restructuring route to recover their dues.
The benchmark indexes Sensex and the Nifty ended a range-bound session marginally lower on Tuesday even as lower oil prices opened up the space for further monetary easing.
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Market Analysis
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.