Sensex declines by 62 points, Nifty trades below 8800

Benchmark Sensex indices continued

to fall amid consolidation, down by 62 points in late morning

trade and dragged by profit-booking in Auto, IT, Technology,

Industrials and Banking sectors ahead of outcome of monetary

policy committee meeting due tomorrow amid weak Asian cues.

Some buying activity is seen in Metal, Oil & gas,

Healthcare, Power and Consumer Durables stocks.

The Sensex opened higher at 28,443.23 and moved in a range

of 28,483.41 and 28,361.97. At 1100 hrs, the 30-share

barometer was quoted lower by 61.92 pts, or 0.22 per cent,

at 28,377.36.

The NSE 50-share Nifty was also down 21.05 points, or 0.24

per cent, at 8,780 at 1100 hrs.

Among the major lossers were, Tata Motors 1.55 per cent,

M&M 1.22 per cent, Bajaj Auto 1.20 per cent and Wipro 1.00 per

cent.

However, SunPharma rose by 0.92 per cent, ITC 0.63 per

cent, Tata Steel 0.62 per cent, Cipla 0.58 per cent,

Asianpaints 0.53 per cent, GAIL 0.51 per cent.

Meanwhile, Foreign portfolio investors (FPIs) sold shares

worth a net Rs 449.52 crore yesterday, as per provisional

data released by the stock exchanges.

Overseas, appetite for Asian stocks and the Euro

evaporated early today as economic and political fears sent

investors seeking shelter in the yen, while forecasts of

China's foreign exchange reserves has fallen for a seventh

month added to jitters.

US stocks closed modestly lower yesterday, as the

S&P 500 index snapped a 3-day winning streak after mixed

earnings.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)