Sensex slips 57 points in early trade on weak Asian cues

MUMBAI: Reversing early gains, the Sensex today declined over 57 points as investors booked profits in healthcare, banking, metal and realty sectors amid weak Asian cues.

The 30-share Sensex was trading 57.30 points, or 0.16 per cent, lower at 35,108.18 in early deals. It touched a high of 35,232.44 in opening trade.

The gauge had gained 820.57 points in the previous three sessions.

The NSE Nifty fell 23.85 points, or 0.22 per cent, lower at 10,664.80.

Among the laggards were ICICI Bank, Sun Pharma, SBI, IndusInd Bank, ITC, Bajaj Auto, HDFC, Kotak Bank, Reliance Industries, Tata Steel, HDFC Bank and Hero MotoCorp, falling up to 1.50 per cent.

The market opened on a positive note on heavy buying by domestic institutional investors (DIIs), but profit-taking and weak Asian cues amid uncertainty over the US-North Korea summit and a political crisis in Italy, wiped-off initial gains, traders said.

Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net of Rs 795.06 crore, while DIIs bought shares worth a net of Rs 1,017.65 crore yesterday, provisional data showed.

Elsewhere in Asia, Japan's Nikkei fell 1.05 per cent and Hong Kong's Hang Seng shed 0.44 per cent in early trade today. Shanghai Composite was also trading lower by 0.32 per cent.

(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.)

 

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PTI