The Indian equity benchmark indices opened lower on Wednesday dragged by selling in IT and financial stocks amid mixed global cues.

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At 9:15 am, the Sensex opened 0.36 percent, or 185.78 points lower at 51,749.10, while the Nifty50 index opened at 15,520.35, down 54.50 points, or 0.35 percent.

Broader markets outperformed the benchmarks as the Nifty Smallcap100 and Nifty Midcap100 indices were trading half a percent higher each.

Among sectoral indices, the Nifty IT, Nifty FMCG, Nifty Private Bank and Nifty Financial Services saw losses while metal, pharma, auto and realty indices gained in the early morning session.

ITC, Tech Mahindra, Hero MotoCorp, Kotak Mahindra Bank and Eicher Motors were the Nifty50 top losers while Tata Steel, Adani Ports & SEZ, ONGC, Cipla and JSW Steel were the top index gainers.

The share price of ITC fell over 2 percent after the company’s Q4FY21 standalone net profit fell 1.3 percent to Rs 3,748.4 crore from Rs 3,797 crore. Revenue however jumped 22.6 percent to Rs 13,294.66 crore from Rs 10,842.28 crore, YoY.

Meanwhile, Asian shares edged up to near three-month highs on Wednesday and global equities held steady near a record as data showing higher US manufacturing activity in May cheered investors looking for signs of a continued rebound in the world’s largest economy.

MSCI’s gauge of stocks across the globe was flat after setting a record intraday high and close on Tuesday. Its broadest index of Asia-Pacific shares outside Japan ticked 0.08 percent higher, and Japan’s Nikkei added 0.36 percent.

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