Sensex extends losses, down 34 pts in early trade
Mumbai: The benchmark BSE Sensex extended losses for the fifth straight day by losing over 34 points in early trade today on sustained selling by funds amid a weak trend in other Asian markets.
The 30-share index, which has lost 544 points in the previous four sessions, fell further by 34.19 points, or 0.12 per cent, to 28,157.83.
Similarly, the National Stock Exchange index Nifty shed 5.10 points, or 0.06 per cent, to 8,546.85.
Brokers said sustained selling by participants amid a weak trend on other Asian markets after a gauge of Chinese manufacturing plunged to an 11-month low in March mainly influenced the sentiment.
Shares of Jindal Steel and Power rose by 2.75 per cent to Rs 158.80 after Delhi High Court yesterday directed the Centre to maintain status quo on a Chhattisgarh mine, the bid for which by the company had been cancelled by the government.
Among other Asian markets, Hong Kong’s Hang Seng was down 0.70 per cent, while Japan’s Nikkei index shed 0.18 per cent in early trade.
The US Dow Jones Industrial Average ended 0.06 per cent lower in yesterday’s trade.