Twitter
Advertisement

Sensex, Nifty down 1% on Asian market cues

The benchmark BSE Sensex and the 50-stock Nifty opened 1% down on Wednesday on the back of renewed weakness in the Asian markets. 

Latest News
article-main
BSE headquarters in Mumbai
FacebookTwitterWhatsappLinkedin

The benchmark BSE Sensex and the 50-stock Nifty opened 1% down on Wednesday on the back of renewed weakness in the Asian markets. 

The BSE Sensex opened at 26,063.27, only slightly down from the previous day's close, but soon slipped to over 1% down. At 0922 hours, Sensex was down at 25,752.54, down 279.84 points or 1.07% down. 

Nifty nearly touched a low of 1%, and was then trading at 7,841.65 points, down 39.05 or 0.50% from previous day's close.  

Indian markets have been dragged down by profit booking and continued weakness in the Asian markets.

Caution ahead of expiry of contracts in the derivatives segment on Thursday also influenced sentiments.

After initial gains world over, market gains gave way on renewed selling, after investors deemed China's rate cut as an insufficient measure to contain the slowdown in the world's second largest economy. The People's Bank of China, on late Tuesday, had cut the key lending rates, deposit rates and the reserve ratio for banks, to infuse some much-needed liquidity into the system.

Hero MotoCorp was the biggest loser in early trade, down 2.32% or Rs 57.55 at Rs 2,419.95 from Tuesday's close. 

Asian markets, however, have recovered from losses -- Shanghai Composite is up 5% from the day's lows -- which may lend some strength to Indian equities intraday. 

 

Find your daily dose of news & explainers in your WhatsApp. Stay updated, Stay informed-  Follow DNA on WhatsApp.
Advertisement

Live tv

Advertisement
Advertisement