Sensex slips 133 points; Nifty below 10,200 mark in early trade

Sensex slips 133 points; Nifty below 10,200 mark in early trade
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Mumbai: Market benchmark BSE Sensex extended losses for sixth straight day by shedding about 133 points in early trade on Wednesday on heavy selling in banking, metal and power stocks amid sustained selling by domestic institutional investors.

Also, a weak trend in other Asian markets after a key advocate for free trade in the White House announced his resignation, fanning fears that President Donald Trump would go ahead with import tariff hike and risk a trade war, weighed on the sentiment, brokers said.

The BSE 30-share index slipped by 132.83 points, or 0.39 per cent, to 33,184.37. The benchmark had lost 1,128.55 points in the previous five sessions.

Sectoral indices led by banking, metal and power were trading in the negative zone, falling by up to 0.98 per cent. Major laggards were ICICI Bank, Adani Ports, SBI, Hero Motocorp, Sun Pharma and Tata Steel.

Also, NSE Nifty was trading down by 50.60 points, or 0.49 per cent, at 10,198.65.

Meanwhile, on a net basis, domestic institutional investors (DIIs) sold shares worth Rs 734.33 crore, while foreign portfolio investors (FPIs) bought shares of Rs 620.08 crore on Tuesday.

In the Asian region, Hong Kong’s Hang Seng fell 0.04 per cent and Japan’s Nikkei shed 0.19 per cent. However, Shanghai Composite Index was up 0.17 per cent in early trade.

The US Dow Jones Industrial Average also ended 0.04 per cent higher on Tuesday.

PTI