Sensex falls 159 points in early trade

Mumbai, Maharashtra, IndiaUpdated: Jul 02, 2018, 10:16 AM IST
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Bombay Stock Exchange Photograph:(Zee News Network)

The BSE Sensex fell 159 points after opening 122 points higher today, following selling pressure on select counters amid sustained capital outflows by foreign funds.

However, auto and IT stocks, led by Bajaj Auto, Tata Motors, Infosys and TCS, were trading higher up to 0.96 per cent.

Asian stocks were trading lower, as trade tensions between the US and its trading partners still continues to be a key concern for investors.

The 30-share index dropped 158.93 points or 0.44 per cent to 35,264.55. The gauge had gained 385.84 points in the previous session.

Similarly, the NSE Nifty fell below 10,700-mark by slipping 51.75 points or 0.48 per cent to 10,662.55.

Sectoral indices led by power, FMCG, PSU, infrastructure, capital goods and banking stocks were trading in the negative zone, falling up to 1.07 per cent.

Major losers were NTPC, Vedanta, L&T, Coal India, ITC, ONGC, Axis Bank, RIL, Bharti Airtel, ICICI Bank, HUL, Wipro, HDFC Bank and Power Grid, falling up to 3.29 per cent.

Brokers said sentiment remained weak in the absence of any positive trigger amid sustained capital outflows.

Foreign portfolio investors (FPIs) sold shares worth Rs 157.15 crore, while domestic institutional investors (DIIs) bought shares worth Rs 2,262.83 crore on Friday, as per provisional data.

In the Asian region, Japan's Nikkei fell 0.48 per cent and China's Shanghai Composite index was down 1.13 per cent, following data showing a drop in Chinese factory activity and the expected imposition of US tariffs later this week, while Hong Kong's Hang Seng markets are closed for a public holiday.

Dow Jones Industrial Average ended 0.23 per cent higher in Friday's trade.