Sensex lost over 100 points on weak Asian cues

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Despite starting positive the benchmark BSE Sensex lost over 100 points today on weak global cues as investors eyed the outcome of the US-China trade talks, ahead of the US jobs report.

The 30 share index started on a positive note but soon turned negative on profit-booking to quote 118.75 points (0.34 percent) lower at 34984.39. Earlier the gauge had lost 73.28 points in the previous session.

The 50 share Nifty of the National Stock Exchange (NSE) also turned negative and shed 33.06 points (0.31 percent) to 10646.05 after opening at 10700.45.

Major laggards were Asian Paints, Sun Pharma, Wipro, Infosys, Coal India, RIL, NTPC, Bajaj Auto, Axis Bank, Maruti Suzuki, Kotak Bank, ICICI Bank, Tata Steel, and HDFC, falling up to 2 percent.

Bharti Airtel, HUL, Adani Ports, ONGC, Dr. Reddy’s, SBI, TCS, IndusInd Bank, Yes Bank, HDFC Bank, TCS and L&T rising up to 2.45 percent.

Brokers said a weak trend in other Asian bourses as investors watched the outcome of trade talks between the US and China, ahead of the April employment data to be released later in the day, influenced sentiments here.

Market participants booked profits at higher levels in opening trade, they added.

Meanwhile, on a net basis, Domestic Institutional Investors (DIIs) sold shares worth Rs 578.92 crore while Foreign Portfolio Investors (FPIs) too sold the shares to the tune of Rs 148.42 crore on Thursday, a provisional data showed.

In other Asian markets, Hong Kong’s Hang Seng shed 0.74 percent while Shanghai Composite Index lost 0.26 percent in early trade on Friday.

The US Dow Jones Industrial Average ended 0.02 percent higher in Thursday’s trade.

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