Sensex down 98 points in early trade, Infosys falls 1.5 %
Mumbai: The BSE benchmark index Sensex declined by 98 points in early trade today due to selling by funds and retail investors amid a weak trend in Asian markets.
The 30-share barometer fell by 98.34 points, or 0.53 percent, to trade at 18,144.22 points. The index had lost 299.64 points in the previous session.
Infosys, which tumbled over 20 percent in the previous session on disappointing Q4 results and a weak forecast for this fiscal, was down 1.5 percent in early trade. Another IT giant TCS was also down over 1 percent.
Consumer durables, IT, auto, realty and capital goods sector stocks bore the brunt of selling pressure.
The wide-based National Stock Exchange index Nifty fell by 26.75 points, or 0.48 percent, to 5,501.80 points.
Brokers said sustained selling by funds in the absence of positive trigger and weakening trend on other Asian bourses mainly dampened the trading sentiment.
Besides, investors were cautious ahead of wholesale price index inflation data for March and corporate earnings from bluechips, including RIL and TCS, they said.
Tata Motors was down over 2 percent while Mahindra & Mahindra fell nearly 1 percent.
On the other hand, gains in SBI and oil major ONGC restricted the fall in the barometer. SBI was up 1.46 percent while ONGC gained 2.92 percent in early trade.
In the Asian region, Japan's Nikkei Index was down 1.21 percent, while Hong Kong's Hang Seng index shed 1.25 percent in early trade. The US Dow Jones Industrial Average ended 0.08 percent lower on Friday due to poor retail sales figure for March.