Sensex opens 50 points lower, Nifty opens flat

The BSE Sensex had ended at a three-month high on Monday,by surging 190.66 points or 0.55% to 35,160.36

JSW Energy, Castrol India Ltd and Hexaware Technologies Ltd dropped after their March-quarter results failed to please investors.

The Sensitive Index (Sensex) of the BSE, which had closed at 35,176.42 points on Wednesday, opened higher at 35,257.31 points.

Sensex touched a high of 35206.55 and a low of 34847.61 in intra-day trading. The market breadth was weak as 1,779 shares fell and 919 shares rose on the BSE.

Among other Asian markets, Japan's Nikkei was down 0.32 per cent while Hong Kong's Hang Seng shed 0.47 per cent in early trade today.

The broader markets too reflected a bearish trend for the second day.

The 30 share index started on a positive note but soon turned negative on profit-booking to quote 118.75 points (0.34 percent) lower at 34984.39. China's Shanghai Composite index was trading in red, down by 0.23 per cent.

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"The global market is trading weak as United States starts trade talk with China while any escalation of trade war will dampen investor sentiment".

On the currency front, the Indian rupee weakened by 22 paise to 66.87 against the U.S. dollar from its previous close at 66.65 per greenback.

Provisional data with the exchanges showed that foreign institutional investors sold scrips worth Rs 148.42 crore, and the domestic institutional investors sold stocks worth Rs 578.92 crore. The index had gained almost 12 percent in the previous month on the back of a weaker rupee and strong earnings from IT majors.

Sectorwise, the BSE realty index lost 1.79 per cent, followed by IT (1.62 per cent), capital goods (1.60 per cent), teck (1.39 per cent), FMCG (1.14 per cent), infrastructure (1.07 per cent), oil and gas (0.59 per cent), auto (0.39 per cent), consumer durables (0.33 per cent) and power (0.21 per cent).

Kotak Mahindra Bank (up 5.48 per cent), Zee Entertainment Enterprises (up 3.02 per cent), ITC (up 2.26 per cent), Asian Paints (up 2.11 per cent) and HDFC Bank (up 1.55 per cent) were the top gainers in the Nifty index.

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