Markets turn negative after opening mildly higher

The BSE Sensex fell 52.61 points or 0.13 percent at 39,533.80 while the NSE Nifty dropped 10.50  points or 0.089 percent to 11,831.05 in early trade.

Markets turn negative after opening mildly higher

New Delhi: Stock markets extended losses opens mildly higher on Friday on negative Asian cues that stumbled amid rising doubts that a highly anticipated meeting between US President Donald Trump and Chinese President Xi Jinping this weekend could lead to an easing of trade tensions.

The BSE Sensex fell 52.61 points or 0.13 percent at 39,533.80 while the NSE Nifty dropped 10.50  points or 0.089 percent to 11,831.05 in early trade.

Top losers in the Sensex pack were Bharti Airtel, Yes Bank, IndusInd Bank, ICICI Bank, Tata Motors, Bajaj Auto, M&M, RIL, Axis Bank and HDFC Bank, shedding up to 1.09 percent. While, TechM, Sun Pharma, L&T, Maruti, PowerGrid, NTPC, Infosys and ITC rose up to 1.45 percent.

On a net basis, foreign institutional investors sold equities worth Rs 71 lakh, while domestic institutional investors bought shares to the tune of Rs 196.57 crore, provisional data showed.

In the previous session on Thursday, the BSE Sensex ended 5.67 points or 0.01 percent lower at 39,586.41 while the NSE Nifty slipped 6 points or 0.05 percent to close at 11,841.55.

Among Asian peers, MSCI`s broadest index of Asia-Pacific shares outside Japan fell 0.3percent, with weakness in Chinese equities weighing on the broader region. Japan`s Nikkei stock index was 0.55percent lower. Chinese blue chips fell 0.49percent on Friday and Hong Kong`s Hang Seng lost 0.59percent. Australian shares were off 0.3percent, a Reuters report said.