Sensex down by nearly 140 points on weak Asian cues
The BSE benchmark Sensex was down by nearly 140 points in early trade on Thursday due to fresh selling in metal, realty, refinery, power and capital goods stocks amid weak Asian cues.
The BSE benchmark Sensex resumed lower at 16,819.74 points and hovered in a range between 16,847.82 and 16,726.63 before quoting at 16,737.28 at 1015 hours, a net loss of 139.78 points, or 0.83 per cent, from its previous close.
The NSE's 50-share Nifty index was also down by 46.55 points, or 0.92 per cent, to 5,016.05 at 1015 hours.
The major losers in early trade were Sterlite Industries (down 3.88 per cent), DLF (2.56 per cent), Hindalco (2.33 per cent), Coal India (2.07 per cent), Bharti Airtel (2.03 per cent), M&M (1.99 per cent), Jaiprakash Associates (1.85 per cent), Tata Motors (1.80 per cent) and ICICI Bank (1.69 per cent).
Metal stocks fell after the LMEX, a gauge of six metals traded on the London Metal Exchange, dropped by 0.63 per cent on Wednesday.
Asian stocks declined in early trade amid weak economic data from Japan and Australia that signalled the global economy is slowing ahead of a European summit on the euro zone sovereign debt crisis.
The key benchmark indices in Hong Kong, Japan, Singapore, South Korea and Taiwan were down by between 0.5 per cent and 1.54 per cent, while China's Shanghai Composite was up by 0.32 per cent.
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