Sensex pares some losses to reclaim 34K; Nifty above 10,400

TNN Bureau. Updated: 4/16/2018 12:40:29 PM Business and Economy

Mumbai, Apr 16: The BSE benchmark Sensex trimmed some early losses tracking caution in other Asian markets after a US-led strike on Syrian targets fuelled fresh geopolitical concerns.

The 30-share index was trading lower by 77.41 points, or 0.23 per cent, at 34,115.24 at 1200 hrs, led by selling on IT, energy, consumer durables, telecom, auto, banking, oil & gas counters.

IT heavyweight Infosys fell over 3 per cent on lower-than-expected margin guidance for fiscal year 2018-19. The IT major, however, met market expectations on financial numbers for the January-March quarter (Q4) results on Friday.

Healthcare, FMCG and capital goods stocks saw buying interest.

The broader Nifty was trading above 10,400-level at 10,467.90, down 12.70 points, or 0.12 per cent.

Major losers were Tata Motors DVR, Tata Motors, Infosys, Axis Bank, Tata Steel, ONGC and SBI.

Meanwhile, foreign portfolio investors (FPIs) sold shares worth Rs 399.59 crore on net basis, while domestic institutional investors (DIIs) sold equities to the tune of Rs 306.05 crore last Friday, provisional data showed.

Most Asian markets were trading lower.

US stocks fell last Friday as weakness in shares of banks and finance firms added to the political and trade tensions weighing on the market.

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