Sensex drops 79 points in late morning trade

Last Updated: Fri, Apr 26, 2013 10:49 hrs

The S&P BSE benchmark Sensex snapped its 4-day winning streak by slipping 79 points in the late morning trade on selling mainly in banking, IT, healthcare and FMCG sectors amid mixed Asian cues.

The Sensex resumed lower at 19,376.00 and hovered in a range of 19,384.95 and 19,317.71 before quoting at 19,328.00 at 1030 hrs, showing a net loss of 78.85 points, or 0.41 per cent, from its last close. It had gained by 675.69 points, or 3.61 per cent, in last four days.

The NSE 50-share Nifty also dropped by 35.30 points, or 0.60 per cent, to 5,881.00 at 1030 hrs.

Major losers were Jindal Steel (2.60 pct) followed by ICICI Bank (1.91 pct), Hero Motocorp (1.85 pct), Sun Pharma (1.82 pct), TCS (1.70 pct), M&M (1.60 pct) and SBI (1.42 pct).

Asian stocks were trading mixed in their early trade. Key benchmark indices in Hong Kong, Taiwan and Singapore rose by 0.16 per cent to 0.9 per cent, while indices in China, Japan and South Korea fell by 0.08 per cent to 0.49 per cent.

Foreign institutional investors (FIIs) bought shares worth Rs 1,449.70 crore yesterday as per provisional data from the stock exchanges.

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