Sensex pares early gains; falls 175 points

The consumer durables index rose 0.15% to be biggest gainer, while realty index was the biggest loser, falling 1.25%

• Rupee opens higher at 62.4 per dolla
  Opening Bell 6 February | Asian markets post modest gains

At 10.36am, the 30-share bellwether BSE Sensex was trading down 0.87%, or 175.50 points. Photo: Bloomberg

Mumbai: Indian markets erased opening gains and turned negative in the late morning session.

At 10.36am, the 30-share bellwether BSE Sensex was trading down 0.87%, or 175.50 points, at 20,085.53 points, while the National Stock Exchange’s (NSE’s) broader 50-share Nifty was trading lower 0.82%, or 49.30 points, at 5,973.10 points.

The gainers included Hindustan Unilever Ltd (HUL) that rose 1.4% to Rs.578 and Tata Power Ltd that jumped 1.23% to Rs.73.8.

Among the losers, Bharat Heavy Electricals Ltd (Bhel) lost 3.08% to Rs.155.65 and Tata Consultancy Services Ltd (TCS) fell 1.84% to Rs.2,150.7.

The BSE consumer durables index rose 0.15% to be the biggest gainer, while the BSE realty index was the biggest loser, falling 1.25%.

Earlier US markets ended higher in choppy trading after economic data offered growth bulls something to smile about, but the underlying tone remained cautious. The US Institute for Supply Management’s index of non-manufacturing activity rose from 53.0 to 54.0 in January. The S&P 500 declined 0.2%, Dow Jones Industrial Average closed flat, while Nasdaq Composite slipped 0.5%.

Asian markets were trading higher on Thursday following positive cues from Wall Street. Hong Kong’s Hang Seng was up 0.53% while Japan’s Nikkei Stock Average was trading up 0.54%. Shanghai markets remains closed for an extended lunar new-year holiday. They reopen on Friday.

NAGESH DUBEY
PGDM 1ST