Sensex trims early losses, still down 141 pts
The benchmark BSE Sensex pared initial losses, but was still trading down by 141 points in late morning trade owing to continued all-round selling due to weak global cues.
The BSE Sensex opened lower at 24,606.20 and moved in a range of 24,727.55 and 24,473.22 before quoting at 24,712.74 at 1105 hours, down by 141.37 points or 0.57 per cent from its last close.
The 50-share Nifty also came down by 48.50 points or 0.64 per cent to 7,513.90 at 1105 hours.
Major losers were, Tata Steel 4.25 pc, Tata Motors 3.28 pc, Axis Bank 2.94 pc, Larsen 2.42 pc, Bhel 2.40 pc, Bharti Airtel 2.11 pc, ONGC 1.84 pc, NTPC 1.80 pc, M&M 1.74 pc and ICICI Bank 1.51 pc.
However, bucking the overall trend Infosys shares rose by 4.49 pc.
Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 75.90 crore yesterday, as per provisional data released by the stock exchanges.
In overseas market, Asian shares weakened across the board today, hit by steep losses on Wall Street overnight as a rout in oil price heightened worries about the global economy.
US stocks rang up sharp losses yesterday in a tough day of trading on Wall Street, marked by investors unloading consumer-discretionary and health-care shares. A renewed slump in crude-oil prices added to the selling pressure, driving the S&P 500 and the Dow Jones to their lowest levels since September 29, 2015.