Indian markets flat on weak GDP data, Asian cues

BSE Sensex was trading down 0.11% to 28,420.51 points. Representational image. Image Source: Reuters

Indian markets opened lower on Thursday as the country's economic growth decelerated to its slowest level in six quarters in the April-June period.

The country recorded a fiscal deficit of Rs 3.93 lakh crore of the budget estimates for 2016-17.

Asian markets also opened lower on crude oil price slump. MSCI’s broadest index of Asia-Pacific shares outside Japan extended early losses and was down 0.5%, while Nikkei was trading flat in early trade sessions.

BSE Sensex was trading down 0.11% to 28,420.51 points and Nifty 50 was trading down 0.09% to 8,778 points at 0945 hours.

Top five gainers on BSE were Hindustan Construction Co. (14.18%), KEC International (4.18%), Arvind Ltd (2.91%), Jubilant (2.87%) and Sadbhav Engineering Ltd (2.46%).

Among the losers were JaiPrakash associates (3.43%), GVK Power & Infrastructure Ltd (2.71%), Muthoot Finance (2.54%), Prestige (2.42%) and Max Financial Services Ltd. (2.18%).

Stocks in focus are Reliance ahead of its Annual General Meet which is scheduled to take place on Thursday. Shares of Reliance Industries were trading down 0.32% to Rs 1054.60 per share.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.