Sensex falls after four days

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India’s benchmark Sensex of the Bombay Stock Exchange (BSE) turned choppy and fell by over 100 points in the early hours of trade today, led by losses on oil &gas, banking, finance and auto counters amid mixed Asian cues.

The 30 share index opened on a positive but soon lost 130 points (-0.38 percent) at 33750.74. Earlier the gauge had lost over 850 points in the previous four sessions.

The broader 50 shares NSE-Nifty also shed 35.50 points (-0.34 percent) to 10366.75.

Concerns over Brent crude prices that again went past USD 70 a barrel weighed on global equities.

Stocks of oil marketing such as HPCL, BPCL, and IOC reeled under pressure and fell up to 1.07 percent.

Banking stocks led by private lenders succumbed to profit-booking after recent gains.

Major laggards were SBI, ICICI Bank, Adani Ports, Axis Bank, Asian paints, and Yes Bank falling up to 2 percent.

Sun Pharma, ONGC, Reliance Industries and Infosys were among top gainers, rising over 2.5 percent.

Meanwhile, on a net basis, Foreign Portfolio Investors (FPIs) sold equities worth Rs 684.99 crore, while Domestic Institutional investors (DIIs) bought shares worth Rs 653.65 crore on Tuesday, provisional data showed.

In other Asian markets, Hong Kong’s Hang Seng gained 0.41 percent while Japan’s Nikkei Shed 0.20 percent in the early trade. Shanghai Composite Index rose by 0.46 percent.

The US Dow Jones Industrial Average ended 1.79 percent higher on Tuesday. Nasdaq gained over 2.07 percent while S&P 500 also rose by 1.67 percent.

Meanwhile, the rupee depreciated 12 paise to 65.11 against the US dollar in opening trade today ahead of the release of US Fed meeting minutes scheduled later in the day.

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