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Sensex falls over 100 points, Nifty slips below 10,900

Asian shares turned tail on the first trading day of the new year.

Sensex falls over 100 points, Nifty slips below 10,900

New Delhi: Markets opened in the red on Wednesday amidst negative global cues with the NSE Nifty slipping below 10,900 mark.

The BSE Sensex fell 129.20 or 0.36 points to 36,125.37 while the NSE Nifty dropped 41.15 points or 0.38 percent to 10,868.95 in early trade.

The biggest losers in the Sensex pack include M&M, HDFC twins, Kotak Bank, Reliance Industries, Axis Bank, Tata Steel, Vedanta and ONGC, falling up to 2 percent. Among gainers were TCS, Infosys, SBI and Yes Bank, rising up to 1 percent.

Asian shares turned tail on the first trading day of the new year as more disappointing economic data from China darkened the mood and erased early gains in US stock futures, a Reuters report said on Wednesday.

MSCI`s broadest index of Asia-Pacific shares outside Japan skidded 1.1 percent as a private survey showed China manufacturing activity contracted for the first time in 19 months. The Shanghai blue chip index quickly shed 1 percent and South Korea fell 0.8 percent. Japan`s Nikkei was closed for a holiday.

The Australian dollar, often used as a proxy for China sentiment, lost 0.5 percent to its lowest since February 2016 at $0.7017.

With Agency Inputs