Sensex trips 53 pts on weak global cues, earnings concern
Mumbai : The benchmark BSE Sensex fell by over 53 points in early trade today, extending its slide for a second straight day on continued foreign fund outflows amid a weak trend in Asia.
Besides, muted expectation of fourth quarter earnings weighed on sentiments.
The 30-share barometer fell 53.77 points or 0.22 per cent to 24,631.65 with IT, teck, consumer durables, oils and gas, auto and banking stocks leading the fall.
The index had lost 215.21 points in the previous session. Also, the NSE Nifty dropped 15.50 points or 0.20 per cent at 7,530.95.
Brokers said fresh round of selling by foreign investors amid muted expectation of fourth-quarter results and a weak Asian trend, tracking overnight losses at the US markets on growing concern about the state of the global economy, hit sentiment here.
Hong Kong’s Hang Seng was trading lower by 0.76 per cent and Shanghai Composite was down 0.90 per cent in early trade. Japan’s Nikkei shed 0.56 per cent.
The Dow Jones Industrial Average ended 0.98 per cent lower in yesterday’s trade.