Sensex down 56 points as May series gets off a shaky start
The May derivatives series began on a negative note due to weak trend in the global markets.
The BSE Sensex fell about 56 points to trade at 25,547.45 in early trade on Friday on continued selling by participants as the May derivatives series began on a negative note amid a weak trend in the global market.
The 30-share Sensex, which lost 461 points in the previous session, fell by another 55.65 points, or 0.21%, to 25,547.45.
Technology, consumer durables, IT, power, auto, banking and capital goods were in the negative zone, falling up to 0.42%.
Also, the NSE Nifty was down 15.65 points, or 0.19%, at 7,831.60.
Brokers said sustained selling by participants despite the beginning of May futures and options series and a weak trend in Asia tracking losses in the US weighed on sentiment.
Data showed that the US economy grew at a slower-than-expected pace in the first three months of this year.
Hong Kong's Hang Seng was down 1.42% while the Shanghai Composite index fell 0.31% in early trade.
Japanese financial markets are closed today for a public holiday.
The US Dow Jones Industrial Average ended 1.17% lower in Thursday’s trade.
At 1008 hours, the benchmark index, Sensex was trading at 25,672.99, up 69.89 points or 0.27%.