Sensex Trims Losses, Down 150 Pts; ITC, HUL Top Drags

Equity benchmark indices opened with cuts on Friday as crude oil prices and bond yields in the US continued to move higher. Though, indices pared some early losses with the BSE Sensex down 150 pts at 65,480 and the NSE Nifty50 at 19,570.

This weakness comes after Fed Chief Jerome Powell said rates are not too high currently, sending US 10-year treasury yield to 5 per cent, the first time since July 20, 2007.

On the Sensex, Ultratech Cement and Tata Motors rose up to 1.2 per cent, while Adani Enterprises led gains on Nifty.

Other frontline stocks sat in red, with highest losses in HUL, ITC, Bajaj Finance, Asian Paints, Power Grid and HCL Tech.

The BSE MidCap index was down 0.14 per cent but the SmallCap index rose 0.32 per cent.