Sensex tanks 293 points on weak Asian cues; Nifty below 10400-mark

The BSE benchmark Sensex fell almost 300 points to crack below the 34,000-mark on Monday amid weak Asian cues after a US-led strike on Syrian targets fuelled fresh geopolitical concerns.

Hero MotoCorp (2.02%), Kotak Mahindra Bank (1.88%) and Adani Ports (1.85%) were the top gainers on Sensex.

Infosys lost 3.2 percent after the IT firm lowered its EBIT margin guidance.

Rising for the 8th straight session the Sensex zoomed over 100 points at while the Nifty reclaimed 10,500 level on Monday as the wholesale price-indexed (WPI) inflation softened in March.

At around 12.58 pm, the NSE Nifty50 was down 9.50 points or 0.09 per cent to trade at 10,471.10 points.

Healthy buying in healthcare and fast moving consumer goods (FMCG) stocks however restricted further losses.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 33,944.73 points, traded at 34,116.08 points - down 76.57 points or 0.22 per cent from its previous session's close.

Meanwhile, foreign portfolio investors (FPIs) sold shares worth Rs 399.59 crore on net basis, while domestic institutional investors (DIIs) sold equities to the tune of Rs 306.05 crore last Friday, provisional data showed.

Among other Asian markets, Hong Kong's Hang Seng shed 1.44%, while Shanghai Composite Index was down 1.05% in early trade. However, Japan's Nikkei was up by 0.26 percent.

United States stocks fell last Friday as weakness in shares of banks and finance firms added to the political and trade tensions weighing on the market. Nasdaq and S&P 500 was also down by 0.47 percent and 0.29 percent respectively.

The rupee fell 20 paise against the U.S. dollar in early trade on global trade war concerns, dip in March exports and a sharp drop in domestic equities.

(Copyright © 2015. All Rights Reserved.)
 
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