Sensex trims initial losses, still down by 57 points
Mumbai: The S&P BSE benchmark Sensex trimmed its initial losses, but was still quoted lower by 57 points due to selling pressure, mainly in consumer durable, metal, FMCG and auto sectors on the back of weak global cues, coupled with capital outflows from foreign funds.
The Sensex resumed lower at 19,103.96 and hovered in a range of 19,135.20 and 19,032.08 before quoting at 19,086.31 at 1030hrs, showing a net loss of 56.89 points or 0.30 percent from its last close.
The NSE 50-share Nifty also eased by 6.70 points or 0.12 percent to 5,782.10 at 1030hrs.
Major losers were Jindal Steel (2.72 pct), Hero Motocorp (2.58 pct), Bajaj Auto (2.26 pct), Coal India (1.80 pct), TCS (1.44 pct), Maruti Suzuki (1.28 pct), ITC (1.27 pct) and Tata Steel (1.17 pct).
Foreign institutional investors (FIIs) sold shares worth a net Rs 885.85 crore yesterday as per provisional data from the stock exchanges.
Asian stocks fell in their early trade as Japanese machinery orders declined more than expected and concern grew that central banks from Tokyo to Washington are increasingly reluctant to add stimulus.
Key benchmark indices in Indonesia, Japan, Singapore and South Korea shed by 0.32 pct to 1.98 percent.