Sensex Down 100 Pts; L&T Up 2%, Asian Paints Plunges 4%

Benchmark indices started Monday’s trading session on a tepid note amid mixed cues from the Asian peers.

The S&P BSE Sensex slipped to a low of 72,888, and was seen quoting 150 points lower at 72,990. The NSE Nifty 50 was testing the 21,150 levels.

Larsen & Toubro was the top mover, up 1.7 per cent among the Sensex 30 shares. Tata Motors, Power Grid and Mahindra & Mahindra were the other notable gainers. On the other hand, Asian Paints plunged nearly 4 per cent. Tech Mahidra, Titan, Wipro and Infosys were the other prominent losers.

Broader indices, however, were seen holding gains. The BSE MidCap index was up 0.2 per cent, while SmallCap added 0.4%.

Global cues

Asian shares exhibited a mixed trend this morning. Japan’s Nikkei extended its record-run to quote 0.5 per cent higher, and Taiwan was up 0.2 per cent. On the other hand, Hang Seng, Shanghai, Kospi and Straits Times declined in the range of 0.5 – 1 per cent.

Over the weekend, the US stocks benchmark indices ended higher led by Nvidia. Dow and the S&P 500 logged new highs, but pared gains towards the close on worries over possible delay in rate cuts as strong economic growth and higher inflation weighed.

The 10-year US Treasury bond yield eased a wee bit to 4.223 per cent. Among commodities, Gold futures quoted around $2,040 per ounce, while Brent Oil dipped to $80.50 per barrel.