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BW Businessworld

Sensex Snaps 2-day Gains, Drops 50 Pts In Early Trade

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The benchmark S&P BSE Sensex snapped its 2-day gains by declining 50 points in the early trade due to fresh selling, mainly in consumer durables, capital goods, refinery and healthcare sectors in view of lower global cues.

Slowing down of foreign capital inflows also affected the market sentiment.

The Sensex resumed lower at 22,488.96 and hovered in a range of 22,532.82-22,455.49 before quoting at 22,458.91 at 1000 hours, showing a loss of 49.51 points, or 0.22 per cent, from its last close.

The NSE 50-share Nifty also moved down by 10.15 points, or 0.15 per cent, to 6,705.15 at 1000 hours.

Major losers were Bharti Airtel (1.19 pct), Hindalco Ind (1.01 pct), HDFC (0.94 pct), Tata Steel (0.80 pct), ICICI Bank (0.76 pct) and Maruti Suzuki (0.71 pct).

Asian shares fell in their early trade as the heightened possibility of Ukraine slipping into civil war dampened risk sentiment. Key benchmark indices in Japan, Hong Kong, China, Singapore, South Korea and Taiwan were down by 0.44 pct to 2.3 pct.

US stocks fell broadly yesterday after disappointing earnings amidst a slide in Twitter shares.

Foreign institutional investors (FIIs) bought shares worth a net Rs 45.93 crore yesterday as per provisional data from the stock exchanges.