Mumbai: The BSE benchmark Sensex fell by 84 points at 10.30 a.m. as weakness in Asian indices weighed on the local bourses.
The Bombay Stock Exchange barometer moved in a narrow range of 18,129.18 and 17,964.03 on alternate bouts of buying and selling ahead of the expiry of January contract Thursday.
It was later quoted at 18,008.24 at 10.30 am, a fall of 83.70 points over Tuesday’s close of 18,091.94.
The broad-based S&P CNX Nifty of the National Stock Exchange (NSE) also quoted down by 33 points at 5,247.80 at 10.30 am from previous close of 5,280.80.
According to market participants, operators and retail investors preferred to sit on the fence as all eyes are set on the outcome of the Federal Reserve’s meet this evening.
However, the Reserve Bank of India Tuesday kept key interest rates unchanged at its quarterly monetary policy review.
All Asian markets were trading down by an average of 0.25% to 2.25% this morning despite firmness on Wall Street Tuesday night.
Foreign Institutional Investors (FIIs) remained net sellers for the last few days and they pulled out nearly Rs2,131 crore in last three days (including provisional figure of January 29).
Heavy-weight stocks like RIL, ONGC, REL, Bajaj Auto, Maruti, M&M, HUL, ITC, ICICI Bank and L&T declined in morning deals.
The Bombay Stock Exchange benchmark Sensex fell by 128 points in early trade today on selling by funds.
The 30-share index, Sensex, which closed 60 points lower Tuesday, lost another 127.91 points to 17,964.03 in the first five minutes of trade.
The National Stock Exchange’s index, Nifty, also dipped by 45.45 points to 5,235.35 as heavy-weight stocks declined.
The trading sentiment turned bullish following reports of a weak trend in other Asian markets, marketmen said.