Stock market update: Sensex and Nifty dips in early trade

Amid negative global cues, the Indian stock market on Friday began its business on a lower note. The Sensex traded at 33,499.71, down 190.38 points or 0.57 percent. The broader Nifty traded at 10,072.00, down 52.90 points or 0.52 percent.

Except IT, all the sectoral indices were trading in red. Prominent losers in the Sensex pack were Yes Bank, NTPC, Asian Paints, Vedanta, TCS and Coal India. Heavyweights Infosys, TCS and ITC contributed most to the losses. Top laggards in the Nifty pack were Yes Bank, Indiabulls Housing Finance, JSW Steel, NTPC and Hindalco.

According to a report by NDTV, in the global market, Asian shares slipped again on Friday morning, deepening this week’s markets rout, after disappointing results from Alphabet Inc and Amazon.com heightened concerns over the outlook for the US corporate earnings, global trade and economic growth.

While US crude dipped 0.74 percent at $66.83 a barrel, Brent crude fell 0.49 percent to $76.51 per barrel.

On Thursday, domestic stocks markets declined 1 percent. BSE benchmark index Sensex plunged 343 points to close at 33,690 while the NSE Nifty declined 99 points to settle at 10,124.

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