Markets open lower tracking weak Asian cues

The markets have started the day on a lower note with the Sensex declining 64 points at 16,356 and the Nifty at 4,945, down 21 points.
The rupee movement and the IIP data for March due later today will also be keenly watched. Global stocks advanced for the first time in seven sessions on Thursday on relatively encouraging US jobs data.
The Dow Jones industrial average closed up 0.2% at 12,855, while the Standard & Poor's 500 Index rose 0.3% to 1,358.
Asian shares, however, retreated on Friday, spooked by JPMorgan's $2 billion huge loss from a failed hedging strategy. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.3%, while Japan's Nikkei share average opened up 0.1%.
Back home, the Nifty is likely to seek support around 4,930-4,910, while it can face resistance around 5,000-5,020, analysts say.