Sensex slides 133 points in early trade; banks lead fall

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Sensex slides 133 points in early trade; banks lead fall

Posted on : Monday 28th of November 2016

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The BSE benchmark Sensex fell over 133 points and the Nifty slipped below the 8,100-mark in early trade on Monday as banking stocks led fall on fresh selling amid mixed Asian cues. Other sectoral indices like consumer durables, PSU, FMCG and capital goods were trading in the negative zone, falling up to 1.56 per cent. The 30-share Sensex was trading lower by 133.12 points or 0.50 per cent at 26,183.22 in early trade.

The index had soared 456.17 points in the previous session after investors crated fresh long positions in the new December series amid the rupee rebounding from record lows. The NSE Nifty was trading down by 23.70 points or 0.29 per cent at 8,090.60. Brokers said sentiments were dampened with trimming of positions by participants, particularly in banking stocks after the Reserve Bank on Saturday introduced an incremental CRR of 100 per cent for the fortnight to absorb the surge in liquidity in banking system following demonetisation of high value notes.

Shares of state-owned SBI was trading lower by 2.68 per cent at Rs 253.95, ICICI Bank fell Rs 1.75 at Rs 255.30, Axis Bank down 1.56 per cent at Rs 464 and HDFC Bank shed 0.28 per cent at Rs 1,185.80, dragged down the key indices. In Asia, Japan’s Nikkei fell 0.80 per cent, while Shanghai Composite Index was quoting 0.32 per cent higherin early trade on Monday. Hong Kong’s Hang Seng index too was up 0.77 per cent. The Dow Jones Industrial Average ended 0.36 per cent higher in Friday’s trade.

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