Sensex falls 171 points in late morning deals

TIL Desk/Business/Mumbai-BSE benchmark Sensex fell 171.29 points in late morning deals on selling in most of the sectors led by FMCG, realty, power and industrials amid weak Asian cues coupled with a caution prevailing among investors ahead of the GST debate in Rajya Sabha today.

The 30-share index resumed higher at 28,008.52 and hovered between 28,015.43 and 27,760.28. It was quoting at 27,810.42 at 1105 hours, showing a loss of 171.29 points or 0.61 per cent from its last close.  The NSE 50-share Nifty was also trading lower by 45.05 points or 0.52 per cent at 8,577.85. Major losers were, ITC 2.42 pct, PowerGrid 2.04 pct, HDFC 1.58 pct, Maruti 1.51 pct, Lupin 1.43 pct and HUL by 1.43 per cent.

Meanwhile, Foreign portfolio investors (FPIs) bought shares worth a net Rs 536.27 crore yesterday, as per provisional data released by the stock exchanges.  Overseas, Asian markets slipped after US stocks took their biggest loss in almost a month yesterday, underscoring simmering worries about global economic growth. Meanwhile, growth in China’s services sector cooled in July, a private survey showed.