Sensex drops by 116 pts on political worries

The BSE index Sensex dropped by 116 points on profit-booking mainly in banking, refinery, realty and health care sectors in view of political worries amidst lower Asian cues.

The BSE index Sensex dropped by 116 points on profit-booking mainly in banking, refinery, realty and health care sectors in view of political worries amidst lower Asian cues.

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The 30-share index resumed lower at 17,275.20 points and dropped further to 17,142.13.

The barometer was quoted at 17,163.04 at 1030 hrs, showing a net loss of 115.81 points of 0.67% from its last close.

The NSE 50-share Nifty also moved down by 36.15 points or 0.69% to 5,206.55.

Among the major losers, Dr Reddy's Lab dropped 3.44%, Sterlite Ind by 1.70% and BHEL by 1.58%. Hero Motocorp fell by 1.41%, Tata Power by 1.34%, Infosys by 1.26% and Wirpo by 1.23%.

Asian stocks were mostly lower in their early trade after weak economic data in the US overnight.

Key benchmark indices in Japan, China, Taiwan and Singapore were down by 0.12% to 1.05 % while indices in Indonesia, South Korea and Hong Kong rose by 0.05% to 0.19%.