Sensex drops 102 points on profit-taking

The benchmark BSE Sensex dropped by another 102 points in morning trade today on selling pressure from operators mainly in refinery, capital goods and banking sectors, tracking lower Asian cues.
The 30-share index Sensex resumed slightly higher at 22,522.46 and moved up further to 22,525.21 on initial buying.
However, it declined immediately to 22,378.49 before quoting 22,406.88 at 1000 hours, showing a loss of 102.19 points or 0.45 per cent from its last close.
The NSE 50-share Nifty also declined by 30.25 points, or 0.45 per cent, to 6,705.85 at 1000 hours.
Major losers were - GAIL 2.40 pct, ONGC 1.78, Coal India 1.42 pct, Larsen 1.29 pct, BHEL 1.15 pct, ICICI Bank 1.15 pct, SBI 1.00 pct and Bajaj Auto 1.00 pct.

Most Asian stocks declined in their early trade as investors await data on US jobs growth later today.

Key benchmark indices in South Korea, Taiwan, Hong Kong, Indonesia, and Singapore were down 0.03 to 0.53 pct, while indices in China and Japan were up 0.12 to 0.13 pct.
The US stocks slipped yesterday as investors turned cautious ahead of Friday's monthly jobs report.
Meanwhile, Foreign Institutional Investors (FIIs) continued their buying spree by investing net Rs 717.39 crore yesterday, as per provisional data from the stock exchanges.