Sensex opens in the red in morning trade, extends losses for 2nd day

Mumbai (Maharashtra), [India], May 25 (ANI): Key indices of the domestic equities market opened in the red today continuing with the losses from Wednesday, tracking weak global cues.

Metal Index is dragging the key index and is one of the biggest laggards on BSE. Hindalco, JSW Steel and Tata Steel are trading in the negative territory.

BSE 30-share Sensex went down 51 points to 61,722.74 and NSE Nifty 50 lost 2 points to 18,284.20 in the morning trade on Thursday.

At 10:27, Sensex was trading 116.22 points lower at 61,657.56, whereas Nifty was trading 34.15 points down at 18,251.25.

In sectoral indices, energy, IT and financial services were trading in the negative territory on Thursday morning.

Telecommunication and Auto indices are trading in the positive territory in the morning.

In the Asian markets, Hong Kong’s Hang Seng lost 391 points, Japan’s Nikkei gained 165 points, China’s Shanghai dropped 21 points and, Thailand Set and the Philippine Stock Exchange were trading in the negative territory when the domestic market opened on Thursday.

In the US markets, Nasdaq lost 76 points, Dow Jones dropped 255 points, NYSE declined 149 points and S and P 500 lost 30 points.

Fitch Ratings puts United States’ AAA rating on ‘negative watch’. The credit ratings agency placed top-ranked US credit on rating watch negative, reflecting the uncertainty surrounding the current debt ceiling debate and the possibility of a first-ever default, according to CNN Business.

In the European market, CAC, BEL, Deutsche Borse and Amsterdam Exchange were trading in the positive territory; FTSE 100, FTSE 250 were trading in the positive territory.

The Indian rupee (INR) opened 10 paise lower against the US dollar on Thursday as demand for safe-haven dollar increased amid worries over the US debt ceiling. INR currency opened at 82.76 a dollar as compared to the previous close of 82.66.

Oil prices fell in early Asian trading on Thursday after uncertainty over the US debt ceiling issue. Brent crude futures slipped 5 cents, or 0.1 per cent, to USD 78.31 a barrel by 0042 GMT. (ANI)



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