Sensex and Nifty loses in the opening session

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The benchmark Sensex of the Bombay Stock Exchange (BSE) turned choppy in the early hours of trade today after it fell by almost 100 points while Nifty was tested for its 10200-level amid muted global cues.

Losses were in healthcare, IT, metal and realty stocks.

The 30 share index which gained close to 300 points in the first session of new fiscal yesterday, shed 96.77 points or 0.29 percent to 33158.59.

The broader 50 share NSE-Nifty was trading 29.95 points low to 10181.85.

Brokers said investor sentiment turned weak largely in tandem with a bearish trend in other Asian markets, tracking overnight losses at the Wall Street on weakness in technology shares and trade tension between the US and China.

Major laggards were Wipro, ONGC, Adani Ports, Coal India, Tata Steel, Asian Paints, HDFC Bank, Kotak Bank, Infosys, Bharti Airtel, L&T falling up by 1.86 percent.

On the other hand, banking stocks like ICICI Bank, Yes Bank, and SBI were among top gainers, rising up to 2 percent.

Meanwhile, on a net basis, Domestic Institutional Investors (DIIs) bought shares worth Rs 413 crores, while Foreign Portfolio Investors (FPIs) sold shares worth Rs 689.75 crore on Monday, a provision data released showed.

In other Asian Markets, Hong Kong’s Hang Seng lose 0.74 percent, Japan’s Nikkei fell by 0.88 percent while Shanghai Composite Index was down by 0.93 percent in early deals.

The US Dow Jones Industrial Average ended 1.90 percent lower on Monday.

Rupee Strengthened by 9 paise to Rs 65.09 in early trade (on fresh selling of the greenback of exporters).

A currency dealer said, “The dollar weakened after China hit back by imposing tariffs on US products, escalating a dispute between two of the world’s biggest economies and supporting the domestic unit here.”

On Wednesday, the rupee had fallen 21 paise lower at Rs 65.18 against the USD on fiscal deficit concerns.

Forex market remained closed due to annual accounts closing on Monday.

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