BSE Sensex extends losses; drops 102 points
Mumbai: The S&P BSE Sensex extended losses in the late morning trade by slipping another 102 points due to persistent selling pressure mainly in PSU, refinery, IT, power and banking sectors in view of sustained foreign capital outflows.
Weak global cues also affected the market sentiment.
The Sensex opened slightly up at 19,224.09 and hovered in a range of 19,234.48 and 19,100.13 before quoting at 19,120.80 at 1025 hrs, showing a net loss of 102.48 points, or 0.53 percent, from its last close.
The NSE 50-share Nifty also dropped by 28.80 points, or 0.50 percent, to 5,784.80 at 1025 hrs.
Major losers were NTPC (1.94 pct), ONGC (1.59 pct), Coal India (1.37 pct), Tata Motors (1.28 pct), TCS (0.94 pct) and Infosys (0.91 pct).
Foreign institutional investors sold shares worth a net Rs 597.37 crore yesterday as per provisional data from the stock exchanges.
Asian stocks fell in their early trade, as investors were cautious ahead of the conclusion of a Federal Reserve policy meeting for clues on bond purchases.
Key benchmark indices in China, Hong Kong, Singapore and South Korea fell by 0.3 percent to 1.35 percent, while indices in Taiwan and Japan rose by 0.23 percent to 1.25 percent.