Domestic Indices open week in red; GNA Axles lists at 20% premium

Domestic markets started the week in red due to weak global cues as investors turned cautious ahead of Americal political elections.

At 0917 hours. the BSE Sensex was trading at 28,553.10, down 115.12 points, or 0.40%. While NSE Nifty was trading at 8,792.45, down 39.10 points, or 0.44%.

On 30-share benchmark, among top gainers were Dr Reddy's Lab (0.74%), Tata Consultancy Services (0.68%), Reliance Industries (0.66%), Power Grid (0.60%) and Sun Pharmaceutical (0.50%). Among losers were ICICI Bank (-1.80%), Tata Motors (-1.44%), Adani Ports & Special Economic Zone (-1.42%), Axis Bank (-1.39%) and HDFC (-1.07%).

Auto ancillary company GNA Axles made its debut on the exchanges today. The shares of the company opened at Rs 248.50. It touched a high at Rs 260 and low at Rs 247.45. The shares of the company pre-opened at Rs 250.20, up 20.87%, or Rs 43.20 on BSE. The company's Rs 130-crore IPO was oversubscribed 54.76 times. The company had fixed the price band at Rs 205-207 for the offer.

The Indian Rupee opened lower by 10 paise at 66.75 per dollar as against the previous close of 66.66.

On global front, Asian shares began the week under a cloud after losses on Wall Street, as investors' attention turned from central banks to American politics ahead of the first US presidential debate, a Reuters report said.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.1% in early trade, while Japan's Nikkei stock index slumped 0.5% against the headwinds of a stronger currency Wall Street logged weekly gains but ended with solid losses on Friday. 

Investors awaited Monday evening's US presidential debate between Donald Trump and Hillary Clinton, which will take place early on Tuesday in Asian time zones. The first of three debates ahead of the November election could set US television audience records, the report added.