Sensex pares early losses, down 61 points in late morning

Friday, Apr 1, 2016,10:55 IST By metrovaartha A A A

Mumbai | The BSE benchmark Sensex was trading lower by 61 points in late morning trade amid profit-booking in telecom, metal, health care, energy, auto, IT and oil&gas sectors on the back of lower Asian cues. However, buying was seen in realty, capital goods, FMCG, power and industrial segments along with shares of midcap and smallcap companies.

Meanwhile, the growth in eight core sectors expanded to a 15-month high of 5.7 per cent in February due to sharp pick-up in natural gas, refinery products, fertiliser, cement and electricity generation.

The Sensex resumed higher at 25,301.70 and moved between 25,354.94 and 25,218.04 before quoting at 25,280.56 at 1100 hrs, showing a loss of 61.30 points or 0.24 per cent. The NSE 50-share, despite losses regained the key 7,700-level to trade at 7,717.60 points, down 20.80 points or 0.27 per cent. Major losers were Bharti Airtel (2.91 per cent), ONGC (1.82 per cent), Adani Ports (1.70 per cent), GAIL (1.60 per cent), Lupin (1.59 per cent), TCS (1.59 per cent) and Tata Steel (1.56 per cent). Notable gainers include BHEL (4.62 per cent), L&T (1.83 per cent), ITC (1.65 per cent), Wipro (1.07 per cent) and CIPLA (0.69 per cent).

Meanwhile, Foreign funds (FPP and FIIs) continued their buying spree as they bought shares worth Rs 4,056.62 crore yesterday, as per the provisional data of stock exchanges. Overseas, Asian markets tumbled today as investors began the new quarter with a cautious mood, with Japanese equities leading losses amid a slump in corporate sentiment. Metals rose after a gauge of Chinese manufacturing expanded for the first time since July. US stocks closed lower yesterday, but still had one of their best months since October as market sentiment stabilised on a more dovish Federal Reserve.