Mumbai, India (BBN) – The S&P BSE benchmark Sensex erased its early gains in late morning trade and was quoting lower by 21 points on renewed selling pressure in refinery stocks despite buying in capital goods, auto, banking and healthcare sectors.
Foreign capital outflows affected the marrket sentiment, reports The Hindu Business Line.
Foreign funds sold shares net of Rs. 145.55 crore yesterday as per the provisional data issued by stock exchanges.
The Sensex resumed higher at 28,825.19 and firmed up further to 28,876.54 on initial buying but fell afterwards to 28,790.22 before quoting at 28,791.80 at about 11.30am, down 0.07 per cent or 21.08 points.
The NSE 50-share Nifty eased by 8.40 points, or 0.09 per cent, to quote at 8,888.30.
Major losers were Coal India 2.15 per cent, Bajaj Auto 1.21 per cent, NTPC 1.15 per cent, TCS 1.06 per cent and HUL 0.67 per cent.
However, M&M 1.25 per cent, Bharti Airtel firmed up by 0.53 per cent, SBI 0.62 per cent, Adani Ports 0.86 per cent and Tata Steel 0.67 per cent.
In the overseas market, most Asian shares rose today in early trade bolstered by gains on Wall Street as investors awaited a speech by US President Donald Trump for signals on tax reform and infrastructure spending.
US stocks pushed further into record territory on yesterday as the Dow Jones industrial average closed at a record high.
The Standard & Poor’s 500 index also closed at a record high.