Sensex slips 139 points on negative global cues

BILKULONLINE

Mumbai, May 21: Indian frontline indices Sensex and Nifty opened in the red, following negative global cues from US and Asian peers. At 9:45 a.m., Sensex was trading 139 points or 0.19 per cent lower at 73,865 points and Nifty was down 25 points or 0.11 per cent, at 22,476 points. Nifty Midcap 100 was down 84 points or 0.16 per cent, at 51,784 points and Nifty Small 100 was down 35 points or 0.21 per cent, at 16,975 points. In early trade, the India Volatility Index (India VIX) was up 7.21 per cent at 22.01 points.

Among the sector indices, PSU Bank, Metal, Media, Energy, Infra, Commodities and PSE were major gainers. However, Auto, IT, Fin Service, Pharma and FMCG were major losers. 15 out of 30 Sensex stocks were trading with gains. JSW Steel, Kotak Mahindra Bank, Tata Steel, Power Grid, NTPC and SBI are the top gainers, while Nestle, Axis Bank, UltraTech Cement, HUL and M&M are the top losers.

Most of the markets in Asia were trading in the red. US markets closed with a decline on Monday. The Dow had slipped nearly half a per cent. A decline of half a per cent is being seen in crude oil. Brent crude remained at $83 and WTI crude at $78 per barrel.

Market experts said: “The Q4 results are generally good with decent revenue and PAT growth. Among sectors, financials particularly banking, automobiles particularly two-wheelers, capital goods, real estate and pharmaceuticals have come out with impressive results and their prospects, too, look good.” “Watch out for these sectors since they are likely to lead in an election results-related rally,” they added.