Sensex in red amid negative Asian cues


Mumbai : A benchmark index for Indian equities was faltering Wednesday amid negative cues from major Asian bourses.

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Realty, metal and energy scrips were facing bulk of the selling pressure.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,643.59 points, was ruling at 17,529.91 points, 160.71 points or 0.91 percent lower than its previous close at 17,690.62 points.

At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty was ruling at 5,259 points, a loss of 0.93 percent from its previous close at 5,308.35 points.

Broader market indices were also in the red with the BSE midcap index ruling 0.87 percent lower and the BSE smallcap index trading 0.7 percent down.

The market breadth was negative with as many as 1,854 scrips declining compared to 904 stocks advancing, while 88 remained unchanged.

Most other Asian markets were in the red, after fears grew that more European countries could default on their sovereign debts. Credit rating agency Standard and Poor’s had categorised Greece’s troubled economy as Junk, and cast doubts on Portugal’s ability to service its debt.

Japan’s Nikkei shut shop 2.57 percent lower at 10,924.79 points, while the South Korean Kospi was ruling 0.89 percent down at 1,733.91 points.

Hong Kong’s Hang Seng was ruling 1.27 percent lower at 20,991.61 points, while the Chinese Shanghai composite index was down 0.26 percent at 2,900.33 points.