Here's how the Markets opened today

The Bank Nifty led major indices lower on Wednesday as traders turned bearish on equities after a sharp global sell-off following China's surprise devaluation of its currency. Banks, Tyre stocks and metal companies were the worst hit.

The Nifty fell 44 points to 8,418 in early deals, dangerously close to its 200-day moving average. The Advance-Decline Ratio was at 10/40 with Hindalco, NMDC, Coal India, Bharti Airtel and Tata Motors taking the first five slots on the losers' list. Tata Steel and Sun Pharma, post their earnings, Tech Mahindra, TCS and Infosys were the top gainers on the Index, where Yes Bank was the most actively traded counter.

Major indices were bathed in red. The CNX 100, CNX 200 and CNX 500 Indexes lost between 0.5-0.6 percent. The Bank Nifty fell 136 points, or 0.7 percent, to 18,481 on dismal numbers posted by SBI. CNX Metals, CNX PSU Bank and CNX Auto Indexes were the top losers in the sectoral space on the National Stock Exchange. The CNX IT index was the lone sectoral gainer as it a reverse play on the weakness of the Rupee.

And on the Bombay Stock Exchange, the Sensex fell 127 points to 27,738 points in initial trades on Wednesday. As a consequence, the Advance-Decline Ratio stood at 10/20. M&M, BHEL and ICICI Bank were major losers compared with Tata Steel, Wipro and Lupin that gained ground.

The Futures and Options market was also on the backfoot with Hindustan Petroleum, Indian Oil, Hindalco and Coal India leading the list of losers versus Sun Pharma, Divi's Labs, Reliance Power and Tech Mahindra that made it to the list of gainers. The Advance-Decline Ratio, meanwhile, stood at 41/120.

The broader market, too, was dominated by the bears in the first half hour of trade with 583 shares rising compared with 933 that fell.

Ajanta Pharma, NIIT Technologies and Chennai Petro struck fresh highs in the first 20 minutes of trade and Jubilant Life Sciences, Mukta Arts and Educomp solutions made it to the volume buzzers list on the NSE.

GAIL, Hindalco and Hind Zinc figured on the list of stocks hitting lowest in 52 weeks.

Image credit: Indiatimes