The BSE benchmark Sensex was down by 49 points in early trade today due to fresh selling pressure felt mainly in realty, power, FMCG and banking counters amid political uncertainty.
The BSE benchmark Sensex resumed higher at 18,837.88, but declined immediately to 18,721.56 before quoting at 18,765.35 at 1015 hours, showing a net loss of 49.13 points, or 0.26 per cent, from its last close.
The NSE’s 50-share Nifty index also moved down by 16.80 points, or 0.30 per cent, to 5,633.70 at 1015 hours.
Realty stocks fell on worries that higher interest rates could dent demand for residential and commercial properties.
DLF, HDIL, Indiabulls Real Estate and Unitech shed between 0.3 per cent and 1.69 per cent in early trade.
Among the 30-member Sensex pack, 22 stocks fell, while the remaining rose.
The major losers were BHEL (down 2.33 per cent,) RCom (1.79 per cent), Reliance Infra (1.31 per cent), Bharti Airtel (0.95 per cent) and Jaiprakash Associates (0.91 per cent).
Most Asian stocks reversed their initial losses today.
The key benchmark indices in Hong Kong, Japan, South Korea and Taiwan rose between 0.03 per cent and 0.53 per cent, while indices in China and Singapore were down between 0.1 per cent and 0.58 per cent.
