Sensex pares losses, down 23 pts in late morning deals
Mumbai, May 9 (DIN NEWS) The BSE Sensex pared its initial losses but still traded 23.52 points lower in late morning deals today, led by profit-booking in energy, utilities and power sectors.
Global markets were mixed after President Donald Trump said the US will withdraw from the Iran nuclear deal, while crude oil surged to its highest level since late 2014 at USD 76 a barrel on supply worries.
Buying interest was witnessed in IT, teck, metal, consumer durables and capital goods sectors.
The 30-share index was trading lower at 35,239.84 at 1045 hrs, showing a loss of 23.52 points, or 0.07 per cent.
The broader Nifty-50 index was trading marginally down by 2.35 points, or 0.02 per cent at 10,720.15.
Major losers were SBI 1.06 per cent, M&M 0.65 per cent, Maruti 0.52 per cent, HDFC 0.48 per cent and HUL 0.41 per cent.
Gainers included Tata Motors 2.89 per cent, Asian Paints 1.44 per cent and Tata Steel 1.24 per cent.
Meanwhile, foreign portfolio investors (FPIs) sold shares worth Rs 97.15 crore on net basis, while domestic institutional investors (DIIs) bought equities to the tune of Rs 923.25 crore yesterday, provisional data showed.
US stocks came off their lows yesterday to end a choppy session little changed after Trump announced the US was abandoning the 2015 Iran nuclear deal. The president also said he planned to ramp up penalties against Tehran, including the highest level of economic sanctions.
