Markets slide in opening trade; metal stocks plunge

The sectoral trend is mixed, with Nifty Auto, Realty, and IT in the green.

Indian equity markets saw a weak opening on Thursday, on the back of negative global cues.

The Sensex fell 225 points to 38,074, and the Nifty was down below 11,300 levels in opening trade. (9.27AM)

The sectoral trend is mixed, with Nifty Auto, Realty, and IT in the green.

Nifty Metal is leading losses, down 2.3%, followed by Nifty Private Bank, down 0.7%.

Metal stocks are down as slowdown in global economic growth has clouded sentiment. 

Shares of Yes Bank are up 16% today after the company explained that the 23% fall in its price on Tuesday was due to the invocation of pledge on a 3.92% stake in the bank by a large stakeholder.  

Tata Motors & Eicher Motors are the top gainers, while Hindalco and Axis Bank are the top losers in early trade.

India Vix was at 17.55, up 4.77%.

Asian markets are trading lower following US markets as growth worries in the US weighed in.

Meanwhile, the rupee is down 15 paise at 71.22/$. 

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