Sensex drops 57 points in early trade on weak global cues | business-news | Hindustan Times
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Sensex drops 57 points in early trade on weak global cues

All the sectoral indices led by metal, auto and oil & gas were trading in the negative terrain.

business Updated: Nov 10, 2017 11:45 IST
Brokers said sentiment dampened largely in tandem with a weak trend at other Asian markets following overnight weakness at Wall Street.
Brokers said sentiment dampened largely in tandem with a weak trend at other Asian markets following overnight weakness at Wall Street.(HT File Photo)

The benchmark BSE Sensex dropped by 57 points to 33,194.35 in early trade on Friday after banking, telecom, auto, oil & gas, and pharma stocks declined following weak global cues.

The 30-share index declined by 56.58 points or 0.17% to 33,194.35. The gauge had gained 32.12 points in Thursday’s highly volatile session.

The NSE Nifty too was trading lower by 36.20 points or 0.35% to 10,272.75.

All the sectoral indices led by metal, auto and oil & gas were trading in the negative terrain, falling by up to 0.92%.

Brokers said sentiment dampened largely in tandem with a weak trend at other Asian markets following overnight weakness at Wall Street amid fears of delay in US corporate tax cut.

Tata Motors fell the most by 2.11% among Sensex scrips even as it posted three-fold jump in consolidated profit for the September quarter.

Asian Paint and Reliance Industries also dropped by 1.78%, dragging the index into the negative zone.

Other major losers were Adani Ports, Axis Bank, TCS, Sun Pharma, Dr Reddy’s, HDFC Ltd, Power Grid, M&M, Hero MotoCorp, Wipro and Infosys.

In other Asian markets, Hong Kong’s Hang Seng index was down by 0.20%, while Japan’s Nikkei shed 1.38% in early trade today. Shanghai Composite Index too was down 0.21%.

The US Dow Jones ended lower by 0.43% in Thursday’s trade.