Sensex drops by 149 pts in the late morning trade

The S&P BSE benchmark Sensex dropped by 149 points in the late morning trade on persistent selling mainly in FMCG, Auto, Captial Goods and Metal sectors in view of depreciation of rupee value against dollar coupled with lower advices from global markets.
The S&P BSE benchmark Sensex resumed slightly higher at 18,758.53 and hovered in a range of 18,771.77 and 18,578.95 before quoting at 18,584.13 at 1040 hrs, showing a loss of 148.91 points, or 0.79 per cent from its last close.
The NSE 50-share Nifty also moved down by 43.05 points, or 0.78 per cent, to 5,499.20.
Major losers were Tata Motors (3.18 pc), Larsen (2.18 pc), ITC (2.15 pc), Hindalco Ind (1.58 pc), Tata Power (1.47 pc), Cipla (1.24 pc) Bajaj Auto (1.23 pc) and Maruti Suzuki (1.21 pc).

Most Asian stocks dropped in the early trade today after overnight losses in the US on monetary-policy concerns.
Key benchmark indices in Japan, Hong Kong, Taiwan, and South Korea were down 0.28 per cent to 2.31 per cent, while indices in China and Singapore rose by 0.33 per cent to 0.34 per cent.