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Sensex slides 80 points as March series turns shaky

Mumbai: The Sensex slumped over 80 points to 28,813 today as the March derivatives series began on a subdued note, mirroring a weak trend in the Asian market. Profit-booking at prevailing levels weighed. The 30-share Sensex fell 80.09 points, or 0.27 per cent, to 28,812.88. The gauge had gained 737.41 points in the previous six sessions.

FMCG, auto, bank, power and metal stocks were trading in the negative zone, down by up to 0.67 per cent. The NSE Nifty offered a similar picture, which was down 10.25 points, or 0.11 per cent, at 8,929.25. A weak trend in other Asian markets cast its shadow as investors stepped back from a recent rally ahead of a speech to the Congress by Donald Trump this week.

The selling came in the face of start of March futures and options series in the derivatives segment. Hong Kong’s Hang Seng was down 0.53 per cent while Japan’s Nikkei shed 1.16 per cent in early session today. Shanghai

Composite fell 0.18 per cent. The US Dow Jones Industrial Average, however, ended 0.05 per cent higher on Friday.

PTI