Sensex, Nifty Fall On Weak Global Cues, Reliance Industries Jumps

Market benchmark BSE Sensex stretched its losses to the second straight day on Friday, shedding over 88 points in early trade on sustained profit-booking by investors after recent gains. Besides, a weak trend in other Asian bourses after a broad global rally, weighed on the trading sentiments here.

The 30-share Sensex slumped further by 88.05 points, or 0.30 per cent, to 28,751.74 with FMCG, IT, technology, power, bank, auto and capital goods stocks declining by up to 0.83 per cent. The NSE Nifty fell by 19.80 points, or 0.22 per cent, to 8,879.95.

Brokers said investors continued to profit-booking after recent rally and trading sentiments remained down amid losses in global markets.

Meanwhile, Bharti Infratel was the top gainer in Nifty rising over 4 per cent followed by Reliance Industries, which gained nearly 2.5 per cent. Gail India, Tata Power and Grasim Industries were the other prominent gainers in the Nifty rising between 1.5-2.2 per cent.

As of 10.33 am, Sensex was down 59 points or 0.20 per cent at 28,781 and the Nifty was 0.27 per cent lower at 8,875.65.

Bosch was the top loser in Nifty down 2.35 per cent followed by ITC, HDFC and Asian Paints, which fell between 1.4-1.9 per cent.

In other Asian markets, Hong Kong's Hang Seng index was down 0.70 per cent while Japan's Nikkei shed 0.65 per cent in trade today. Shanghai Composite Index was down by 0.45 per cent extending its morning losses. (With agency inputs)

Overnight, the US markets ended lower with the Dow Jones index falling 0.53 per cent.