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Sensex Falls 100 Points, Nifty Near 10,650; Wipro Shares Down 2%

Top losers on the 50-scrip Nifty index were Wipro, BPCL, UltraTech Cement and Axis Bank.

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Sensex Falls 100 Points, Nifty Near 10,650; Wipro Shares Down 2%

Thirty stocks on the 50-scrip Nifty index were trading in the negative zone


The stock markets started Friday's session on a weak note, with the BSE Sensex falling 105 points and the NSE Nifty trading near the 10,650 mark. Declines were led by banking, IT and infra shares. National Stock Exchange (NSE) benchmark index Nifty shed 26 points to touch 10,655 in early morning deals. Thirty stocks on the 50-scrip Nifty index were trading in the negative zone. Top losers were Wipro, BPCL, UltraTech Cement and Axis Bank. 

Wipro shares fell as much as 2 per cent. Wipro had informed stock exchange BSE on Thursday that it "allotted 30,409 equity shares under ADS Restricted Stock Unit Plan 2004 and 673 equity shares under Restricted Stock Unit Plan 2007 to the employees on May 16, 2018 pursuant to exercise of ESOPs". Among other IT stocks, Infosys fell 0.7 per cent and TCS 0.5 per cent. 

Among banking stocks, HDFC Bank fell 1 per cent, ICICI Bank 0.9 per cent, Axis Bank 0.6 per cent and PNB 0.5 per cent.

Losses in the domestic equity markets came despite shares in other Asian markets edging up. Although trading with a mild gain of 0.05 per cent, MSCI's broadest index of Asia-Pacific shares outside Japan was headed for a 1 per cent loss for the week. Japan's Nikkei was up 0.2 per cent.

Investors kept a cautious watch on developments in US-China trade negotiations, while the dollar was perched near a five-month peak against a basket of currencies thanks to the benchmark US Treasury yield topping a seven-year high.

Overnight on Wall Street, US equities finished slightly lower on Thursday. The Dow Jones Industrial Average fell 0.22 per cent, the S&P 500 lost 0.09 per cent and the Nasdaq Composite dropped 0.21 per cent.


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