Stock Market Today: Sensex slips over 100 points in early trade, Nifty dips below 17,300-mark

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Share, Stock Market, Sensex, Nifty: The benchmark indices on BSE and National Stock Exchange (NSE) opened marginally lower on Tuesday tracking weakness in their global peers.

At 9:22 am, the S&P BSE Sensex was trading at 57,994.25, down 121.25 points (0.21 per cent) while the Nifty 50 was down 53.85 points (0.31 per cent) at 17,286.20.

On the Sensex pack, Tata Steel, Tech Mahindra, HCL Technologies, Dr. Reddy’s Laboratories, Infosys and Axis Bank were among the top laggards in the early trade. On the other hand, ITC, Asian Paints, Hindustan Unilever, Nestle India, NTPC and Power Grid Corporation of India were the top gainers.

Global Markets (from Reuters)

Asia stocks continued a decline from Wall Street on Tuesday, and US long-term Treasury yields sank to a four-month low, pulling the US dollar down against the yen and other currencies as investors worried about the risk of global recession.

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The Australian and South Korean equity benchmarks suffered losses of about 0.3 per cent each, while Japan’s Nikkei tumbled 1.17 per cent. Chinese blue chips dropped 1.06 per cent and Hong Kong’s Hang Seng lost 1.1 per cent. Taiwan’s stock index slid 1.68 per cent. MSCI’s broadest index of Asia-Pacific shares retreated 0.8 per cent.

US e-mini stock futures pointed to a 0.31 per cent lower restart for the S&P 500, which stumbled 0.28 per cent overnight.