Photo: The Hindu Business Line
Chennai, India (BBN) – The Sensex and Nifty opened the session on a negative zone owing to weak global cues.
At 9.15 a.m., the 30-share BSE index Sensex fell 55.69 points to 32,814.03 and the 50-share NSE index Nifty dropped 23.5 points to 10,127.75, reports The Hindu Business Line.
Asian shares were subdued as investors’ rotation out of technology shares took the toll on some of the region’s tech heavyweights although hopes of a major tax cut in the United States underpinned risk sentiment.
MSCI’s broadest index of Asia-Pacific shares outside Japan were capped by the fall in the region’s technology shares, with Samsung Electronics losing 1.5 per cent. Japan’s Nikkei fell 0.4 per cent, with semiconductor-related shares such as Tokyo Electron and Shin-etsu Chemical leading the losses.
The Dow Jones Industrial Average had reached a record high on Monday, with banks and retailers surging and technology companies falling as investors realigned their portfolios in hopes of benefiting from expected corporate tax cuts.
The Dow Jones Industrial Average rose 0.24 per cent to end at 24,290.05 points, while the S&P 500 lost 0.11 per cent to 2,639.44. Earlier in the session, the S&P 500 had touched a record high. The Nasdaq Composite dropped 72.22 points to end at 6,775.37.
BBN/MMI/ANS
