Sensex declines over 100 pts in early trade; Nifty slips below 11,100

Mumbai, July 31 dmanewsdesk: Domestic equity benchmark Sensex declined over 100 points in opening session on Friday tracking losses in index-heavyweights HDFC twins and Reliance Industries amid negative cues from global equities.

The BSE Sensex was trading 116.84 points or 0.31 per cent lower at 37,619.23; while the NSE Nifty was down 27.70 points or 0.25 per cent at 11,074.45.

HDFC was the top loser in the Sensex pack, falling around 2 per cent, followed by Kotak Bank, HDFC Bank, Reliance Industries, Tata Steel and Nestle India.

On the other hand, HCL Tech, TCS, SBI, Infosys, Sun Pharma and Tech Mahindra were among the gainers.

In the previous session, the 30-share Sensex ended 335.06 points or 0.88 per cent lower at 37,736.07; while the NSE Nifty tumbled 100.70 points or 0.90 per cent at 11,102.15.

Exchange data showed that foreign institutional investors bought equities worth Rs 207.30 crore on a net basis on Thursday.

According to traders, domestic stocks opened on a weak note tracking negative global cues after the US said its economy plunged by a record-shattering 32.9 per cent annual rate last quarter.

Bourses in Shanghai, Hong Kong, Tokyo and Seoul were in red.

Stock exchanges on Wall Street ended on a mixed note in overnight trade.

Global oil benchmark Brent crude was trading 0.53 per cent higher at USD 43.48 per barrel.

Source: PTI