Sensex drops 57 pts in early trade on weak global cues
The benchmark BSE Sensex dropped by
57 points to 33,194.35 in early trade today after banking,
telecom, auto, oil & gas, and pharma stocks declined following
weak global cues.
The 30-share index declined by 56.58 points or 0.17 per
cent to 33,194.35. The gauge had gained 32.12 points in
yesterday's highly volatile session.
The NSE Nifty too was trading lower by 36.20 points or
0.35 per cent to 10,272.75.
All the sectoral indices led by metal, auto and oil & gas
were trading in the negative terrain, falling by up to 0.92
Brokers said sentiment dampened largely in tandem with a
weak trend at other Asian markets following overnight weakness
at Wall Street amid fears of delay in US corporate tax cut.
Tata Motors fell the most by 2.11 per cent among Sensex
scrips even as it posted three-fold jump in consolidated
profit for the September quarter.
Asian Paint and Reliance Industries also dropped by 1.78
per cent, dragging the index into the negative zone.
Other major losers were Adani Ports, Axis Bank, TCS, Sun
Pharma, Dr Reddy's, HDFC Ltd, Power Grid, M&M, Hero MotoCorp,
Wipro and Infosys.
In other Asian markets, Hong Kong's Hang Seng index was
down by 0.20 per cent, while Japan's Nikkei shed 1.38 per cent
in early trade today. Shanghai Composite Index too was down
0.21 per cent.
The US Dow Jones ended lower by 0.43 per cent in
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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