Mumbai, India (BBN) – The Indian benchmark BSE Sensex extended losses in the afternoon deals and was trading lower by over 200 points following sustained selling in metal, oil & gas, healthcare and infrastructure stocks amid weak Asian cues.
Markets turned volatile owing to weak Asian cues President Donald Trump’s failure on healthcare reform raised questions about his ability to push through tax cuts and fiscal spending to boost the economy, reports The Hindu Business Line.
At 12 noon, the 30-share BSE index Sensex was down 204.97 points or 0.7 per cent at 29,216.43 and the 50-share NSE index Nifty was down 69.15 points or 0.76 per cent at 9,038.85.
Among BSE sectoral indices, metal index fell the most by 1.99 per cent, followed by oil & gas 0.85 per cent, healthcare 0.83 per cent and infrastructure 0.69 per cent. Only consumer durables index was up 0.47 per cent.
Major Sensex losers were Tata Steel (-2.88 per cent), Reliance (-2.17 per cent), Coal India (-2.15 per cent), Wipro (-1.69 per cent) and Sun Pharma (-1.66 per cent), while the top five gainers were State Bank of India (+0.65 per cent), Dr Reddy’s (+0.52 per cent), HUL (+0.47 per cent), Power Grid (+0.41 per cent) and Infosys (+0.08 per cent).
The 30-share barometer declined 96.80 points or 0.32 per cent to 29,324.60 with sectoral indices led by metal, TECk, IT, healthcare, oil & gas, FMCG and auto trading in negative zone with losses up to 0.86 per cent.
The index had risen about 254 points in the previous two sessions.
Also, the NSE Nifty slipped below the crucial 9,100-level by falling 33.15 points or 0.36 per cent to 9,074.85.
US stock futures and the dollar fell on Monday while Asian markets struggled as President Donald Trump’s failure on healthcare reform raised questions about his ability to push through tax cuts and fiscal spending to boost the economy.
MSCI’s broadest index of Asia-Pacific shares outside Japan was broadly flat after posting its first weekly decline last week in three weeks.
Japan’s Nikkei fell 1.5 per cent as the yen rebounded in the face of renewed US dollar weakness.