Sensex loses over 100 points in early trade

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The benchmark Sensex of the Bombay Stock Exchange (BSE) started negative in early trade today losing over 100 points on weak global cues and rupee depreciation against the US Dollar.

The 30-share barometer dropped 105.53 points (0.30 percent) to 34, 511.11. Earlier, the gauge had gained 201.06 points in the previous two sessions.

The broader 50-share NSE-Nifty fell below 10600-mark, it shed 25.85 points (0.24 percent) to 10588.50.

NTPC, ONGC, Dr. Reddy’s, Asian Paints, Tata Steel and Sun Pharma, were among top losers, falling up to 1.29 percent.

Sectoral indices led by power, banking, realty, capital, IT, PSU and metal stocks were trading in the negative zone, falling up to 0.82 percent.

Bharti Airtel, on the other hand, was among the biggest gainer in Sensex, easing up by nearly 3 percent. It reported its lowest quarterly net profit of at least 14 percent yesterday. Other gainers were TCS, Wipro, Infosys, RIL, and Adani Ports rising up to 1.90 percent.

Brokers said sentiment turned weak on sustained capital inflows by foreign funds amid a weak trend in other Asian markets following overnight weakness at Wall Street after the 10-year treasury yield briefly touched the 3 percent level for the first time in four years.

Meanwhile, on a net basis, Domestic Institutional Investors (DIIs) bought shares worth Rs 508.55 crore yesterday while the Foreign Portfolio Investors sold shares worth Rs 680.99 crore on Tuesday, provisional data showed.

In other Asian markets, Hong Kong’s Hang Seng shed 1.07 percent while Japan’s Nikkei fell 0.65 percent in early trade. China’s Shanghai Composite index too was down 0.59 percent.

The US Dow Jones Industrial Average ended 1.74 percent lower in yesterday’s trade while Nasdaq Composite Index was also down 1.70 percent.

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