Sensex drops over 150 points, Nifty slips below 11,800-mark in early trade; Vedanta, Tata Steel, Coal India among top losers

Sensex was trading 175.29 points or 0.44 percent lower at 39,276.78 at 0930 hours

Press Trust of India June 17, 2019 10:06:33 IST
Sensex drops over 150 points, Nifty slips below 11,800-mark in early trade; Vedanta, Tata Steel, Coal India among top losers
  • The 30-share index was trading 175.29 points or 0.44 percent lower at 39,276.78 at 0930 hours

  • The broader NSE Nifty was quoting 50.20 points, or 0.42 percent down at 11,773.10

  • US indices are trading at resistance levels, which is an indication of weakness to persist.

Mumbai: Domestic equity benchmark BSE Sensex fell over 150 points and the NSE Nifty slipped below the 11,800-mark in early trade Monday tracking dragged down by losses in index heavyweight RIL, ITC and HDFC stocks.

The 30-share index was trading 175.29 points, or 0.44 percent, lower at 39,276.78 at 0930 hours. Similarly, the broader NSE Nifty was quoting 50.20 points, or 0.42 percent, down at 11,773.10.

In the previous session on Friday, the BSE gauge settled 289.29 points or 0.73 percent, lower at 39,452.07, and the broader NSE Nifty tumbled 90.75 points or 0.76 percent, to close at 11,823.30.

Top losers in the Sensex pack in early trade included Vedanta, Tata Steel, RIL, Coal India, Axis Bank, Hero MotoCorp, Tata Motors and Kotak Bank, shedding up to 2 percent. On the other hand, Yes Bank, Infosys, PowerGrid, NTPC and TCS rose up to 1 percent.

Sensex drops over 150 points Nifty slips below 11800mark in early trade Vedanta Tata Steel Coal India among top losers

Representational image. Reuters.

"Current formation of the market is indicating that major participants of the market are turning cautious ahead of the major outcome of Fed's decision, which is due on 19th June 2019," said Ashish Nanda EVP & Business Head—PCG, Commodities and Currency Business, Kotak Securities.

US indices are trading at resistance levels, which is an indication of weakness to persist.

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

Meanwhile, foreign institutional investors sold equity worth Rs 238.64 crore, while domestic institutional investors bought shares to the tune of Rs 376.47 crore, provisional data available with stock exchanges showed on Friday.

On the currency front, the Indian rupee depreciated 6 paise to 69.86 against the US dollar.

The global oil benchmark Brent crude futures were trading 0.31 percent higher at 62.20 per barrel.

Updated Date:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

RBI keeps repo rate unchanged at 4%; GDP to contract by 9.5% in current FY, says Shaktikanta Das
India

RBI keeps repo rate unchanged at 4%; GDP to contract by 9.5% in current FY, says Shaktikanta Das

The central bank has also kept the door open for lowering rates further by retaining an 'accommodative' policy stance, for as long as needed, to support growth, said the RBI governor

TCS announces Rs 16,000-cr buyback plan, net profit up 4.9% at Rs 8,433 cr in  Sep quarter
Business

TCS announces Rs 16,000-cr buyback plan, net profit up 4.9% at Rs 8,433 cr in Sep quarter

The net profit, however, excluded Rs 1,218 crore-provision towards a legal claim, the company said in a regulatory filing