Sensex pares early gains to trade lower, Nifty slips below 10,750; Infosys tanks 4%
At 10:45 am, Sensex was trading at 35,566, down 79.27 points, while the broader Nifty50 was ruling at 10,746, down 23.20 points. In the broader market, the BSE Midcap and the BSE Smallcap indices slipped up to 0.3 per cent.
The Sensex and Nifty pared initial gains to trade lower on Thursday, following intense selling pressure in consumer durables, metal and realty stocks amid sustained capital outflows by foreign funds. A depreciating rupee against the dollar also dampened the sentiment.
US President Donald Trump's new tariffs on Chinese imports deadline also affected investors' sentiment world over.
At 10:45 am, Sensex was trading at 35,566, down 79.27 points, while the broader Nifty50 was ruling at 10,746, down 23.20 points. In the broader market, the BSE Midcap and the BSE Smallcap indices slipped up to 0.3 per cent.
Market breadth, indicating the overall health of the market turned negative. On the BSE, 1,132 stocks declined, 943 stocks gained, while 103 stocks remained unchanged.
Sectoral indices led by consumer durables, metal, realty, teck, capital goods, healthcare and IT were trading in the negative zone, falling up to 1.29 per cent.
Major losers were Tata Motors, Vedanta, Tata Steel, Bharti Airtel, Infosys, HDFC Ltd, Wipro, Asian Paints, Sun Pharma, L&T, Poweer Grid, HDFC Bank, Adani Ports, NTPC and SBI, falling up to 3.37 per cent.
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Meanwhile, foreign portfolio investors (FPIs) sold shares worth Rs 284.58 crore yesterday, while domestic institutional investors (DIIs) bought shares worth Rs 611.01 crore as per provisional data.
Overseas, Asian markets were trading lower as investors look for direction amid growing global trade war tensions. Japan's Nikkei fell 0.36 per cent and Hong Kong's Hang Seng shed 0.66 per cent in early trade. China's Shanghai Composite index too was down 0.53 per cent.
US stock futures were marginally higher, pointing to a stronger open for Wall Street later in the day.
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