The BSE Sensex started Wednesday’s session on a lower note, falling as much as 164 points in early morning deals amid weakness in other Asian markets. Declines were led by metal and PSU banking stocks, down around 1.3 per cent. The National Stock Exchange (NSE) benchmark index Nifty fell 59
points to touch 10,184 on the downside. Top laggards on the NSE Nifty included Hindalco Industries, Vedanta, HPCL and Tata Steel, trading between 1.6 per cent and 1.9 per cent lower.
Equities in the other Asian markets pulled back as Wall Street was knocked hard on concerns about tighter regulations on the tech industry, denting a brief global equities recovery driven by hopes of easing fears of a trade war between China and the United States.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.4 per cent, with tech-heavy Korean shares falling 1.0 per cent. Japan’s Nikkei fell 2.1 per cent. Overnight on Wall Street, the S&P 500 lost 1.73 per cent and the Nasdaq Composite dropped 2.93 per cent, making their fourth decline in five sessions.
At 9:21 am, 43 stocks on the 50-scrip NSE Nifty were trading in the negative zone.