Sensex declines by 51 points on mild selling
The Bombay Stock Exchange benchmark Sensex declined by 51 points in morning trade due to selling by funds following weak global trends.
The 30-share index dropped by 50.84 points, or 0.28 per cent, to 18,358.51 points at 10.15 am. The barometer had opened higher by 41 points on mild buying. The NSE 50-share nifty also moved down by 25.50 points or 0.46 per cent to 5,518.00 points.
Brokers said selling by funds following weak trends in Asian markets pulled the market down. Among major losers HDFC Bank fell by over 1.34 per cent, while software major Infosys shed 0.68 per cent pulling the Sensex into the red. DLF, Hindalco, Jindal Steel and Jaiprakash Associates were other major losers in morning trade.
However, Bharti Airtel, Reliance Communication, ITC and BHEL firmed up to 1.52 per cent. Among Asian markets, the Japanese Nikkei index fell over 1 per cent while Hong Kong’s Hang Seng slipped by 0.02 per cent in morning trade after overnight losses in the US markets.
The Dow Jones Industrial Average declined 39.21 points or 0.38 per cent and the Nasdaq Composite dropped 20.13 points or 0.92 per cent.
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