Sensex falls 113 pts on wider trade deficit, muted earnings

TIL Desk/Business/Mumbai/ The BSE benchmark Sensex dropped by 113 points in early session today, weighed down by metal stocks, as trade deficit widened to an almost 3-year high. Moreover, disappointing quarterly earnings by some blue- chip companies and weak global cues made mood gloomy.

The 30-share index was trading lower by 113 points, or 0.34 per cent, at 32,828.87. The gauge had lost 372.69 points in the previous two sessions. All the sectoral indices led by metal, power and FMCG were trading in the red, falling by up to 2.14 per cent.

The NSE Nifty fell 30.85 points, or 0.30 per cent, to 10,155.75 in early trade. Exports entered negative terrain after over an year, contracting 1.12 per cent in October. Trade deficit widened to almost a 3-year high of USD 14 billion last month as imports surged. Metal stocks suffered the most following the decline in metal prices in the global market, traders said.