TIL Desk/Business/Mumbai/ Domestic equity benchmark BSE Sensex dropped over 300 points in early trade on Friday tracking losses in metal, auto, IT and banking stocks. The 30-share index pared some opening losses to trade 248.25 points or 0.67 per cent lower at 37,063.28 at 0930 hours; and the broader Nifty too fell 67.45 points or 0.61 per cent to 10,961.95 in morning trade.
In the previous session on Wednesday, the 30-share index settled 353.37 points or 0.96 per cent higher at 37,311.53. The broader NSE Nifty reclaimed the 11,000-mark, jumping 103.55 points or 0.95 per cent to close at 11,029.40. The stock market was closed on Thursday on account of Independence Day.
Top losers in the Sensex pack in early trade included Vedanta, HCL Tech, TCS, Bharti Airtel, Tata Steel, Tata Motors, TechM, SBI and Infosys, shedding up to 2.63 per cent. While, Yes Bank, ONGC, ITC, Bajaj Finance and HUL rose up to 1.37 per cent. According to experts, rising concerns of an economic slowdown, weak earnings and global trade volatility has been weighing on investor sentiment.
