New Delhi: Markets opened in the red for the second day on Thursday led by losses in IT, banking and financial stocks.
The BSE Sensex fell 192.33 points or 0.51 percent to 37,259.51 in early trade while the NSE Nifty dropped 56.75 points or 0.51 percent to 10,989.35.
Major losers in the Sensex pack were Yes Bank, HDFC, Axis Bank, Tech Mahindra, ICICI Bank, Bajaj Finance, NTPC, SBI, HCL Tech, Heromoto Corp, Kotak Bank and HDFC Bank, falling upto 1.76 percent. On the other hand shares of Sun Pharma, Vedanta, Tata Motors, Bharti Airtel, IndusInd Bank, M&M, Maruti, HUL and L&T were major gainers, rising upto 2.65 percent.
Markets had reacted positively by posting an upward rally for three days since last Friday after Finance Minister Nirmala Sitharaman announced slew of measures to revive economic growth that included the most awaited rolled back of the enhanced surcharge on foreign portfolio investors (FPIs). This was followed by announcement by the RBI that it will transfer Rs 1.76 lakh crore surplus to the government.
However, sentiments turned negative on Wednesday following decline in sectoral indices and cues from global markets
In the previous session on Wednesday the BSE Sensex fell 189.43 points or 0.50 percent to 37,451.84 while the NSE Nifty closed 60.50 points or 0.54 percent to 11,046.10.
Among the Asian peers, MSCI`s broadest index of Asia-Pacific shares outside Japan fell 0.38 percent, Singapore shares hit eight-month lows, while Japan`s Nikkei shed 0.44 percent. On Wall Street, the S&P 500 gained 0.65 percent on Wednesday due in part to gains in the energy sector following a rebound in oil prices. But U.S. stock futures lost 0.4 percent in Asia, a Reuters report said.
With Agency Inputs