Sensex dives 180 points in early trade on selling pressure in banking, auto, metal stocks; Nifty down

Mumbai: Falling for the second straight session, the equity benchmark BSE Sensex on Monday lost over 180 points in morning trade after intense selling pressure witnessed in banking, auto and metal stocks despite firming trends in other Asian bourses.

The 30-share index declined by 180.50 points, or 0.50 percent, to 35,845.04, after rising to 36,124.26 in early trade.

The gauge had lost about 169 points in the previous session.

Besides weak corporate earnings for the third quarter, brokers said, uncertainties over the high-level trade talks between the US and China impacted the investors' sentiment.

In similar movement, the NSE Nifty lost 60.70 points, or 0.56 percent, to 10,719.85.

Sensex dives 180 points in early trade on selling pressure in banking, auto, metal stocks; Nifty down

Representational image. Reuters.

Maruti Suzuki India on Friday reported 17.21 percent fall in its net profit for the third quarter ended 31 December 2018.

Major losers that led the crash were ICICI Bank, YES Bank, Bajaj Finance, Bajaj Auto, Maruti, Axiz Bank, and HeroMotoCorp, falling up to 2.88 percent.

Major gainers included L&T, TCS, Kotak Bank, Asian Paints, IndusInd Bank and HUL.

Meanwhile, Foreign portfolio investors (FPIs) bought shares worth a net Rs 689.28 crore, and domestic institutional investors (DIIs) sold shares to the tune of Rs 147.35 crore Friday, as per provisional data released by the stock exchanges.

Brent crude, the global oil benchmark, was trading lower at $61.36 per barrel, down by 0.45 percent.

Among other Asian markets, Japan's Nikkei was trading lower by 0.31 per cent, Korea's Kospi was up 0.09 percent, Hong Kong's Hang Seng gained 0.25 percent, Shanghai Composite Index was higher by 0.38 per cent and Taiwan's index rose 0.26 percent in their late morning deals.

On Wall Street, the US Dow Jones Industrial Average ended 0.75 per cent up in Friday's trade.

 

 

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Updated Date: Jan 28, 2019 10:32:26 IST

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