Sensex down 70 points in early trade on falling exports
business Updated: Mar 16, 2016 10:39 IST
Market benchmark BSE Sensex stretched its losses for the second day on Wednesday, shedding over 70 points in early trade on sustained selling by investors amid dip in exports.
Besides, a weak trend at other Asian bourses as traders await the conclusion of the US Federal Reserve’s latest policy meeting, weighed on the trading sentiments here.
The 30-share Sensex fell further by 70.14 points, or 0.28%, to 24,481.03 with healthcare, FMCG, teck, IT, auto, capital goods and power stocks leading the fall.
The gauge lost 253.11 points in the previous session. The NSE Nifty fell by 13.55 points, or 0.18%, to 7,447.05.
Brokers said investors indulged in selling following a weak trend at other Asian markets and decline in country’s exports for the 15th month in a row in February at 20.73 billion dollar, down 5.66%.
Among pharma shares, Cipla, Sun Pharma and Dr Reddy’s were trading in the negative terrain falling up to 1.65%.
In other Asian markets, Hong Kong’s Hang Seng index was down 0.54% while Japan’s Nikkei shed 0.77% in early trade. Shanghai Composite Index was marginally down 0.20%. The US Dow Jones edged up 0.13% on Tuesday.