Sensex slides 133 points amid weak Asian market trend; to track election results today
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The benchmark BSE Sensex lost 133 points to 25,571.97 in early trade on Thursday on sustained fund outflows amid weak trend at other Asian markets.
Besides, depreciating rupee to a two-month low of 67.20 against the US dollar also had a bearing on the sentiment.
The 30-share index fell 132.64 points or 0.51% to 25,571.97 with sectoral indices led by tech, FMCG, banking, IT, PSU, metal and oil & gas, were trading in the negative territory with losses up to 0.42%.
The gauge had lost 69 points in the previous session.
The 50-share NSE Nifty also dropped by 40.60 points or 0.51% to 7,829.55.
At 1014 hours, the benchmark index Sensex was trading at 25,589.89 points, down 114.72 points or 0.45%, whereas Nifty was trading at 7,836.90 points, down 33.25 points or 0.42%.
Brokers said continued selling by participants, tracking a weak trend in other Asian markets after the minutes of the Federal Reserve's end-April meeting showed the central bank far more bullish about a possible June rate hike than the markets had understood, dampened sentiments.
Meanwhile, Mamta Banerjee-led TMC has surged ahead of the Left-Congress alliance in West Bengal, BJP was ahead in Assam while AIADMK and LDF were leading their rivals in Tamil Nadu and Kerala, according to early trends as the counting of votes began for four state Assembly polls.
Among other Asian markets, Japan's Nikkei fell 0.05% while Hong Kong's Hang Seng shed 0.44% in early trade on Thursday.
The US Dow Jones Industrial Average closed 0.02% lower in Wednesday's trade.
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The Supreme Court on Tuesday dismissed a petition seeking to revert to ballot paper voting in elections in the country.
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Upon being asked how many people will suffer from lung cancer in future because of poor AQI, the Ashoka University dean said that “every Delhi is developing some degree of lung damage.” People who have pre-existing diseases or sensitivity are more serious, but no one is immune to it, he added.
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India's Andhra Pradesh state is reviewing government files and will explore if it is possible to cancel a power supply contract linked to the Adani Group, whose billionaire founder has been indicted in the United States, a top official told Reuters.
US authorities have charged Gautam Adani and seven others with agreeing to pay bribes of $265 million to unnamed Indian government officials to obtain solar power-supply contracts in Odisha, Tamil Nadu, Chhattisgarh, Andhra Pradesh and the federal territory of Jammu and Kashmir, between 2021 and 2022.
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The board of directors of Hindustan Unilever (HUL) on Monday gave an in-principle approval to demerge the ice-cream business into an independent listed entity.
Subject to necessary approvals and procedures, shareholders of HUL will receive shares in the new entity in proportion to their shareholding in the company, HUL said in a release.
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