Business India

Morning trade session: Markets flat on weak Asian cues

Sensex dropped by around 68 points to touch a low of 35,195.63 so far. The gauge had lost 159.07 points in the previous session yesterday. Sensex opened slightly higher at 35,344.21 after closing at 35,264.41 on Monday.

The benchmark BSE Sensex shed about more than 50 points in early deals today on sustained capital outflows by foreign funds amid selling pressure on some counters and weak Asian cues.

Deprecating rupee against the dollar also added to the dampened sentiment.

Most Asian shares dropped as sentiment remained fragile in the face of tense trade relations between the US and major economies, with investors braced for another potentially rocky day for Chinese markets, broker said.

In a similar fashion, the NSE Nifty touched a low of 10,630.25 during the early morning trade.

Sectoral indices led by realty, metal, PSU, FMCG and banking were trading in the negative zone.

Foreign portfolio investors (FPIs) sold shares worth a net Rs 1,205.12 crore, while domestic institutional investors (DIIs) bought shares worth a net Rs 366.94 crore yesterday as per provisional data.

In the Asian region, Japan’s Nikkei fell 0.60 per cent, Hong Kong’s Hang Seng shed 3.02 per cent in early trade. China’s Shanghai Composite index too plunged 1.63 per cent.




News credit : Indiatoday

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