Sensex Falls 114 Points In Morning Trade Amid Weak Trends In Global Markets

Equity benchmark indices declined in early trade on May 25 amid weak trends prevailing in global markets amid lack of any breakthrough in the US debt ceiling talks.

However, later both indices Sensex and Nifty turned volatile and were oscillating between highs and lows.

The 30-share BSE Sensex witnessed 114.17 points decline to 61,665.42 till 11:09 am after starting the day on a weak note. Meanwhile, NSE Nifty tumbled 36.05 points to 18,249.35 at 11:10 am on Thursday.

From the Sensex pack,Tata Motors, State Bank of India, Mahindra & Mahindra, HCL Technologies, Wipro, IndusInd Bank, HDFC, Infosys, Tata Steel, Axis Bank, Tata Consultancy Services and Reliance Industries were the major laggards, according to a PTI report.

ITC, Nestle, Kotak Mahindra Bank, Bharti Airtel, Power Grid and Larsen & Toubro were among the gainers.

In Asian markets, Seoul, Shanghai and Hong Kong quoted lower, while Tokyo traded in the green. The US market ended lower on Wednesday, added the PTI report.

“The uncertain stance of the Fed and ongoing talks about the US debt ceiling are casting a shadow of volatility in the markets,” said Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities Ltd, PTI reported.

The Sensex fell 208.01 points or 0.34 per cent to settle at 61,773.78 on Wednesday. The Nifty declined 62.60 points or 0.34 per cent to end at 18,285.40.
“The important factor weighing down the markets in the near-term is the lack of breakthrough in the US debt ceiling impasse,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.