Indian equity benchmark BSE Sensex extended losses for the sixth straight session, by shedding about 133 points in early trade on Wednesday, on heavy selling in banking, metal and power stocks amid sustained selling by domestic institutional investors.
BUSINESS Updated: Mar 07, 2018 10:46 IST
A weak trend in other Asian markets after a key advocate for free trade in the White House announced his resignation, fanning fears that President Donald Trump would go ahead with import tariff hike and risk a trade war, also weighed on the sentiment, brokers said.
The BSE 30-share index slipped by 132.83 points, or 0.39%, to 33,184.37. The benchmark had lost 1,128.55 points in the previous five sessions. The NSE Nifty was trading down by 50.60 points, or 0.49%, at 10,198.65.
Sectoral indices led by banking, metal and power were trading in the negative zone, falling by up to 0.98%.
Major laggards were ICICI Bank, Adani Ports, SBI, Hero Motocorp, Sun Pharma and Tata Steel.
Meanwhile, on a net basis, domestic institutional investors (DIIs) sold shares worth Rs 734.33 crore, while foreign portfolio investors (FPIs) bought shares of Rs 620.08 crore on Tuesday.
In the Asian region, Hong Kong’s Hang Seng fell 0.04% and Japan’s Nikkei shed 0.19%. However, Shanghai Composite Index was up 0.17% in early trade.
The US Dow Jones Industrial Average also ended 0.04% higher on Tuesday.
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