Sensex drops over 150 points, Nifty below 11,800-mark dragged by losses in HDFC, RIL, ITC amid weak cues from Asian markets

Mumbai: Domestic equity benchmark BSE Sensex fell over 150 points on Friday dragged by losses in index heavyweights HDFC, RIL, ITC and Maruti, amid weak cues from other Asian markets.

The 30-share index was trading 136.59 points, or 0.34 percent, lower at 39,465.04 at 0930 hours. Similarly, the broader NSE Nifty was quoting 32.25 points, or 0.27 percent, down at 11,799.50.

In the previous session Thursday, the BSE gauge settled 488.89 points, or 1.25 percent, higher at 39,601.63; and the Nifty closed 140.30 points, or 1.20 percent, up at 11,831.75.

Top losers in the Sensex pack included Maruti, Yes Bank, Tata Motors, Kotak Bank, ITC, HDFC, Axis Bank and Bajaj Auto shedding up to 2 percent.

While, Vedanta, SBI, Coal India, L&T, PowerGrid, IndusInd Bank, ICICI Bank and HCL Tech were among the gainers, rising up to 1 percent.

According to experts, investors took weak cues from other Asian markets amid continued foreign fund outflow and a depreciating rupee.

 Sensex drops over 150 points, Nifty below 11,800-mark dragged by losses in HDFC, RIL, ITC amid weak cues from Asian markets

Representational image. Reuters.

Elsewhere in Asia, Shanghai Composite Index, Hang Seng, Nikkei and Kospi were trading on a choppy note in their respective early sessions.

On Wall Street, S&P 500 ended at its record peak on Thursday, and Nasdaq rallied 0.80 percent.

On a net basis, foreign institutional investors sold equity worth Rs 438.41 crore, while domestic institutional investors purchased shares to the tune of Rs 1,241.23 crore, provisional data available with stock exchanges showed on Thursday.

On the currency front, the Indian rupee depreciated 30 paise to 69.74 against the US dollar.

The global oil benchmark Brent crude futures were trading flat at 64.47 per barrel.

Domestic market was also cautious ahead of Finance Minister Nirmala Sitharaman's first meeting of the GST Council on Friday, traders said.

The Council will consider slashing GST rate on electric vehicles to 5 percent, from 12 percent currently, along with extension of the tenure of the anti-profiteering authority by a year till November 2020, an official said.

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Updated Date: Jun 21, 2019 10:24:22 IST