Sensex down 61 points in early trade; L&T plunges 7.98%

The benchmark BSE Sensex fell over 61 points in early trade on Wednesday on selling by funds and retail investors ahead of monthly expiry in the derivatives segment amidst lower-than expected corporate earnings by some firms.

The 30-share barometer, which had lost 280.62 points in the previous two sessions, moved down by another 61.40 points, or 0.29 per cent, to 25,929.83 with capital goods, realty, metal and healthcare stocks leading the fall.

Also, the National Stock Exchange index Nifty shed 18.60 points, or 0.24 per cent, to 7,730.10.

Brokers said offloading of positions by foreign funds and retail investors in view of Thursday’s monthly expiry in the derivatives segment influenced the trading sentiment.

They said lower-than-expected quarterly earnings by some companies including Larsen and Toubro also dampened the sentiment.

Stock of Larsen and Toubro plunged 7.98 per cent to Rs 1,513.45 after the company’s quarterly earnings did not meet market expectations.

Among other Asian markets, Japan’s Nikkei rose 0.27 per cent, while Hong Kong’s Hang Seng was trading 0.75 per cent higher in early trade.

The U.S. Dow Jones Industrial Average ended 0.42 per cent down in Tuesday’s trade.