TIL Desk/Business/Mumbai/ Domestic equity benchmark BSE Sensex dropped over 100 points in early trade on Wednesday as investor sentiment dampened further after IMF cut India’s growth outlook. Massive foreign fund outflow too hit market mood here, traders said.
After swinging nearly 250 point in highly volatile opening session, the 30-share index was trading 104.13 points or 0.27 per cent lower at 37,878.61 at 0930 hours; and the broader Nifty also fell 38.30 points or 0.34 per cent to 11,292.75. In the previous session, the 30-share index ended 48.39 points, or 0.13 per cent, lower at 37,982.74.
The Nifty too slipped 15.15 points, or 0.13 per cent, to close at 11,331.05. In early trade, shares of Vedanta, IndusInd Bank, M&M, Maruti, Bajaj Auto, Bharti Airtel, ICICI Bank, Bajaj Finance, Tata Steel and RIL were among the top losers in the Sensex pack, falling up to 1.99 per cent. On the other hand, HDFC Bank, Yes Bank, PowerGrid, TechM, HUL, SBI and HDFC Bank rose up to 1.69 per cent.
