Sensex, Nifty hit fresh intraday low

Selling intensified as key barometers hit fresh intraday low in morning trade. At 10:27 IST, the barometer index, the S&P BSE Sensex, was down 57.92 points or 0.17% at 34,558.72. The Nifty 50 index was down 26.45 points or 0.25% at 10,587.90.

After a negative opening, market slipped further in morning trade. The Sensex fell 2.03 points, or 0.01% at the day's high of 34,614.61 in early trade. The index fell 114.75 points, or 0.33% at the day's low of 34501.89 in morning trade. The Nifty fell 1.75 points, or 0.02% at the day's high of 10,612.60 in early trade. The index fell 37.70 points, or 0.36% at the day's low of 10,576.65 in morning trade.

Among secondary barometers, the BSE Mid-Cap index was down 0.20%, underperforming the Sensex. The BSE Small-Cap index was up 0.03%, outperforming the Sensex.

The market breadth, indicating the overall health of the market, was negative. On BSE, 1208 shares fell and 824 shares rose. A total of 100 shares were unchanged.

NTPC (down 1.68%), Axis Bank (down 1.16%), ONGC (down 0.96%), Asian Paints India (down 0.93%), Larsen & Toubro (down 0.9%) and Tata Steel (down 0.76%), were the major losers in the Sensex pack.

TCS (up 1.49%), Adani Portsand Special Economic Zone (up 0.74%), Tata Motors (up 0.63%) and Bajaj Auto (up 0.6%), were the top gainers from the Sensex pack.

IT major Wipro was up 1.74%. The company will announce Q4 results today, 25 April 2018.

Overseas, Asian shares fell across the board, following an overnight drop in US stocks. Rising US bond yields also worried investors.

US stocks tumbled overnight, led by a selloff in industrials, materials and technology shares. The selling pressure came after the 10-year Treasury yield briefly touched the psychologically important 3% level for the first time in four years. Caterpillar, an industrial heavyweight, beat earnings estimates due to strong global demand but its shares slumped after management warned their results could cool in the near term.

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