Sensex drops 72 pts on weak global cues

The BSE Sensex snapped its 3-day gaining streak by slipping 72 points in morning trade today on fresh selling in realty, power, metal, capital goods, refinery and banking sectors on the back of weaker global trends.
Asian stocks were trading lower in their early trade on rising geopolitical tension after downing of a Malaysian Airlines plane at the Ukraine-Russia border.
Shares of Tata Consultancy Services, India's largest IT company, climbed 3.52 per cent to Rs 2,464.95 after it posted a 45 per cent jump in consolidated net profit at Rs 5,568 crore for the first quarter ended June 2014. Wipro also moved up by 2.59 per cent.

The 30-share index Sensex resumed lower at 25,558.48 and moved in a range of 25,570.85 and 25,441.24 before quoting 25,489.38 points at 1000 hours.
It showed a loss of 71.78 points, or 0.28 per cent, from its last close.
The NSE 50-share Nifty also moved down by 34.15 points or 0.41 per cent to 7,609.30 at 1000 hours.

Major losers were Tata Power (2.63 pct), BHEL (2.28 pct), Hindalco (2.25 pct), Coal India (2.00 pct), NTPC (1.76 pct), Bajaj Auto (1.75 pct), Gail (1.66 pct) and SBI (1.52 pct).
Meanwhile, Foreign Portfolio Investors (FPIs) bought shares worth a net Rs 1,912.42 crore yesterday, as per provisional data from the stock exchanges.

Key benchmark indices in Hong Kong, Taiwan, Singapore, Japan and South Korea fell by 0.03 to 1.09 per cent, while China's Shanghai Composite rose 0.27 per cent.
US markets fell yesterday on the news that a Malaysian Airlines passenger was downed near the Ukraine-Russia border.