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EconoMix

Sensex tanks 164 pts on Asian cues; RIL plunges 1.75%

Friday, Apr 7, 2017,10:18 IST By joji A A A

Mumbai | The benchmark BSE Sensex lost over 164 points to 29,763.02 in early trade today as RIL led the fall on increased selling by participants amid weak trend in other Asian markets.
The 30-share index fell 164.32 points or 0.54 per cent to 29,763.02 with sectoral indices led by healthcare, FMCG, metal, power and capital goods, were trading in the negative territory with losses up to 0.61 per cent.
The gauge had lost 40.90 points in the previous session after the Reserve Bank left the key policy rate unchanged, in line with Street expectations.
The 50-share NSE Nifty also dropped by 49.35 points or 0.53 per cent to 9,212.60.
Brokers said continued selling by participants, tracking a weak trend in other Asian markets as US missile strike against Syria fuelled geopolitical concern, dampened sentiments.
Shares of Reliance Inudstries were quoting 1.75 per cent lower at Rs 1,413.15 after Telecom regulator Trai yesterday ordered Mukesh Ambani-led Reliance Jio to withdraw the three-month ‘complimentary’ offer of unlimited data usage and free calls on payment of a minimum Rs 303.
Other losers were Sun Pharma, Adani Ports, Power Grid, Coal India, HDFC Ltd, ITC Ltd, Tata Motors and Lupin, falling by up to 2.38 per cent on profit-booking.
Among other Asian markets, Japan’s Nikkei fell 0.10 per cent while Hong Kong’s Hang Seng shed 0.67 per cent in early trade today. Shanghai Composite Index, however, up 0.19 per cent.
The US Dow Jones Industrial Average closed 0.07 per cent higher in yesterday’s trade.