Business

Sensex slides 118 points in early trade on Paris attack

Mumbai, November 16: Domestic shares opened on a weaker note today, tracking heavy selling in other Asian markets, where sentiment remained bearish in the wake of last week's deadly attacks in Paris and downbeat data from Japan.

During the day, sentiment would be further guided by the announcement of wholesale inflation data, say experts.

Continuing its losing streak, the benchmark BSE Sensex was down over 118 points in early trade as sustained foreign fund outflows and muted corporate earnings also took its toll.

A series of attacks targeting young concert-goers, soccer fans and Parisians enjoying a Friday night out at popular nightspots killed at least 130 people in the deadliest violence to strike France since World War II.

Reacting to the news, the 30-share BSE Sensex was trading down by 118.88 points or 0.46 per cent at 25,491.65 with stocks of IT, realty, metal, auto, PSU and power sectors leading the fall.

The gauge lost over 256 points in the previous session on bearish macroeconomic data with industrial production falling to a four-month low of 3.6 per cent in September and retail inflation touching 5 per cent in October.

The National Stock Exchange Nifty was also trading lower by 39.55 points or 0.50 per cent to 7,722.70.

Meanwhile, a government data released today showed that Japan's economy slipped back into recession, contracting by 0.8 percent in the September quarter.

Japan's Nikkei moved down by 0.97 per cent. Among other Asian markets, Hong Kong's Hang Seng fell 1.96 per cent while Shanghai composite index was down 1.63 per cent.

The US Dow Jones Industrial Average ended 1.16 per cent lower in Friday's trade.

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