Sensex Down Nearly 98 Points; Nifty Decline Below 7,700


MUMBAI: The benchmark Sensex took more blows as it slid further by nearly 98 points to 25,232.64 after selling in frontline shares in energy and oil and gas made things shaky.

This came on top of weak global cues after deadly terror attacks in Brussels on Tuesday.

Investors are bracing for a long weekend of holidays as markets will remain closed on Thursday and Friday on account of Holi and Good Friday, respectively.

Telecom, metal, realty and auto segments gained traction.

At 1207 hours, the Sensex index recovered slightly but was still trading down 97.85 points than its earlier level, or 0.39%, to 25,232.64 on the stock exchange. At 1143 hours, the index was trading down at 144.97 points, or 0.57%, to 25,185.52 on the stock exchange.

At 1212 hours, the NSE 50-share Nifty also recovered slightly but was still trading down 29.90 points than its earlier level, or 0.39%, to 7,685.00. At 1143 hours, the Nifty had dropped 35.60 points, or 0.46%, to quote below the crucial 7,700-level at 7,679.30.

The ones that encountered losses include Reliance (1.96%), HDFC (1.59%), ONGC (1.55%) and NTPC (1.17%). However, Bharti Airtel rose 2.33% followed by Tata Motors 2.59% and Tata Steel 1.11%.

Foreign funds continued their buying momentum on Tuesday as they bought shares worth Rs 1,095.44 crore, the exchange data showed.

Overseas, Asian indices were trading lower following lacklustre overnight cues in the U.S.  and geopolitical concerns following the deadly terror attacks in Brussels.

Most U.S.  stocks fell on Tuesday as a decline in financial and consumer-staples shares kept the main benchmarks on edge.

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Source: PTI