Domestic stock markets started Thursday’s session on a lacklustre note tracking weakness in Asian peers. The Nifty fell 27.7 points to touch 10,827.45 in early trade, while the Sensex declined as much as 85.58 points to hit 36,127.33. Weakness in banking and financial services stocks pulled the markets lower. At 9:32 am, the Sensex traded 29 points lower at 36,183 and the Nifty was down 16 points at 10,838. Top laggards on the 50-scrip NSE benchmark index were Bharti Infratel, Axis Bank, Hindustan Petroleum, Bharat Petroleum and IndusInd Bank, trading between 1.2 per cent and 2.6 per cent lower.
TCS were down 0.2 per cent. The IT major is due to release its earnings for the October-December quarter after markets hours.
Asian shares took a breather on Thursday after an extended rally, as markets awaited more news on US-China trade talks that have raised hopes of a deal to avert an all-out trade war between the economic giants.
MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.2 per cent, reversing course after briefly touching a near four-week high early in the session.
The Sensex and Nifty have risen for four consecutive sessions. On Wednesday, the indices closed 0.6 per cent and 0.5 per cent higher respectively.
(With agency inputs)