After Malaysian airline MH17 crisis, Sensex down by 45 points in early trade

The benchmark BSE Sensex fell over 45 points in early trade today as funds and retail investors booked profits after three days of gains, even as TCS shares rallied nearly 4 % after encouraging June quarter results amid a weak global trend. 

Malaysian airlines stocks fell by 18% after the crisis. 

The 30-share index declined by 45.82 points, or 0.17 %, to 25,515.34 with realty, power, PSU and metal sector indices leading the fall. The index had gained 554.44 points in the previous three sessions.

The National Stock Exchange Nifty moved down by 16.85 points, or 0.22 %, to 7,623.60.

Brokers said besides profit-booking by speculators after the recent rally, a weak global trend due to geopolitical tensions arising out of downing of Malaysian Airlines plane in Ukraine contributed to the decline.

They said, however, surge in IT sector stocks averted any major fall.

Shares of Tata Consultancy Services, India's largest IT company, climbed 3.52 % to Rs 2,464.95 after it posted a 45 % jump in consolidated net profit at Rs 5,568 crore for the first quarter ended June 2014.

Buying activity also emerged in other IT stocks such as Wipro and Infosys which rose up to 2.53 %.

Among other Asian markets, Hong Kong's Hang Seng was down 0.87 % while Japan's Nikkei fell 1.28 % in early trade today.

The US Dow Jones Industrial Average ended 0.94 % lower in yesterday's trade.

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