Mumbai: Market benchmark BSE Sensex tanks over 100 points in early trade on Wednesday dragged by gains in index heavyweights Sun Pharma, Infosys, Zee Entertain, Cipla, Dr Reddys Labs.
After opening with 100 points dip, the 30-share index rose to trade 122 points, or 0.31 per cent, higher at 40,371.07. Similarly, the broader NSE Nifty rises 24.20 points, or 0.20 per cent, to 11,941.24 at 11:45 am.
The 30-share index slipped into the negative terrain to trade 89.07 points, or 0.22 per cent, lower at 40,159.16 and the broader NSE Nifty fell 34.30 points, or 0.29 per cent, to 11,882.90 at 11:28 am.
Top gainers and losers
Top losers in the Sensex pack included Bharti Airtel, HCL Tech, ITC, Axis Bank, Bajaj Auto, HDFC duo, TCS and Reliance Industries, shedding up to 1.65 per cent.
On the other hand, Sun Pharma was the biggest gainer, rallying 5 per cent, after the drug major said it had entered a licensing agreement with AstraZeneca UK to introduce certain novel ready-to-use infusion oncology products in China.
Tech Mahindra, Yes Bank, Infosys, Vedanta, M&M and L&T too fell up to 1.13 per cent.
Previous closing
In the previous session, the 30-share Sensex settled 53.73 points, or 0.13 per cent, lower at 40,248.23. The Nifty too slipped 24.10 points, or 0.20 per cent, to close at 11,917.20.
Foreign institutional investors (FIIs) purchased shares worth Rs 473.17 crore in the capital market on Tuesday, while domestic institutional investors sold equities worth Rs 1,593.71 crore, data available with stock exchange showed.
According to traders, stock-specific action amid lack of directional cues kept market sentiment subdued.
Global markets
Globally, bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading on a cautious note.
Shares on Wall Street ended a tad lower on Tuesday.
On the currency front, the rupee depreciated 9 paise against the US dollar to trade at 70.78 in early session.
Brent futures, the global oil benchmark, fell 0.64 per cent to USD 62.56 per barrel.
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