Markets

Sensex pares initial losses

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BSE Sensex resumed lower at 27,136.28, and fluctuated between a high of 27,359.54 and a low of 27,105.04 before quoting at 27,331.18 at 1015 hrs.

BSE Sensex resumed lower at 27,136.28, and fluctuated between a high of 27,359.54 and a low of 27,105.04 before quoting at 27,331.18 at 1015 hrs.

The benchmark Sensex on Monday pared its initial hefty losses and was trading lower by 19.50 points.

It even made an attempt to claw its way back into positive terrain but slipped marginally in red on selling pressure in key bluechips from IT, Tech and Healthcare sectors.

Country’s largest software service firm TCS warned of weak December quarter on seasonality last Friday, after market hours, and this put pressure on market sentiment.

Also, lower factory output data along with subdued global markets amid falling crude prices, brought back nervousness, traders said.

The 30—share BSE Sensex resumed lower at 27,136.28, and fluctuated between a high of 27,359.54 and a low of 27,105.04 before quoting at 27,331.18 at 1015 hrs — a small loss of 19.50 or 0.07 per over its last close.

The NSE 50—share Nifty was also trading almost flat, down by a mere 0.10 points to quote at 8,224.

Foreign Portfolio Investors sold shares worth net Rs 864.96 crore last Friday as per provisional data.

Major losers were TCS (3.24 per cent), Cipla (1.68 per cent), GAIL (1.63 per cent), Wipro (1.58 per cent), Infosys (1.00 per cent) and Dr Reddy’s (0.84 per cent).

Asian stocks were trading lower on continued slump in oil prices that stoked concerns of worsening global economic outlook.

Key indices in China, Hong Kong, Singapore, Indonesia, South Korea, Hong Kong and Taiwan were down 0.47 per cent to 1.31 per cent.

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Printable version | Jan 28, 2020 3:07:37 AM | https://www.thehindu.com/business/markets/sensex-nifty-plunge-in-early-trade/article6692815.ece

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