Sensex, Nifty likely to open lower; Vedanta, Biocon, Zee, RCom in focus

May 08, 02:23 AM

Indian markets are likely to open lower on Wednesday following a selloff in global markets after trade tensions between US and China escalated. 

Shares in Asian and the US fell sharply as the latest developments in the US-China trade conflict fanned fresh fears about global growth. United States on Monday accused Beijing of backtracking from commitments made during trade negotiations.  

Indian investors are cautious ahead of the Lok Sabha election results due on May 23. In the previous session, benchmark indices BSE Sensex and NSE’s Nifty 50 plunged nearly 1 percent. 

At 06:47 AM, the SGX Nifty, an early indicator of the Nifty 50's trend in India, was down 0.53 percent trading at 11,467.50, indicating a weak start for Sensex and Nifty.

Stocks in focus: Vedanta, Biocon, Zee, RCom.