Sensex down by 166 points on selling pressure

The Sensex fell to 17,108.41 points with all sectoral indices trading in the negative on Friday. File photo

The BSE Sensex on Friday dropped by another 166 points in late morning trade due to persistent selling pressure from operators, mainly in metal, capital goods, realty, power and auto sectors triggered by weak global cues.

The 30-share index resumed lower at 17,164.48 and dropped further to 17,052,95 before quoting 17,058.63 points at 10.15 a.m., showing a net loss of 165.73 points, or 0.96 per cent, from Thursday’s close.

The NSE 50-share Nifty also dropped by 51.25 points, or 0.98 per cent, to 5,176.50 at 10.15 a.m.

Major losers were Tata Steel (2.69 per cent), Sterlite Ind (2.58 per cent), Hindalco Ind (2.35 per cent), Tata Motors (1.99 per cent), Coal India (1.99 per cent), BHEL (1.91 per cent), Jindal Steel (1.76 per cent) and Larsen (1.75 per cent).

Asian stocks dropped for the third day on Friday after European Central Bank (ECB) president Mario Draghi failed to deliver immediate action to stem the region’s debt crisis.

Key benchmark indices in Hong Kong, Indonesia, Japan, Singapore, South Korea and Taiwan fell by between 0.09 per cent to 1.25 per cent.