Sensex sheds 156 points on political uncertainty

Markets Buy Sell Stocks

No let-up in selling by foreign funds and rising global crude oil prices, which hovered near Dollars 80 per barrel, affected investor sentiment, brokers said.

The BSE Sensex drifted lower by another 125 points in early trade today amid unabated foreign fund outflows and surging global crude oil prices.

BJP legislature party leader B S Yeddyurappa was sworn in as the chief minister of Karnataka for the second time, after an overnight high-voltage legal battle in the Supreme Court.

Indian shares ended lower for a fourth straight session on Friday, dragged by financials such as HDFC Bank and Housing Development Finance Corp, while sentiment was subdued amid caution over developments in U.S. The broader 50-stock Nifty closed 4.75 points lower at 10,801.85.

"Market traded in a negative bias despite gains in rupee while investors' focus is now shifting to earnings after the State election dilemma". The 30-share BSE index hit a high of 35993.53 in morning trade.

Foreign portfolio investors (FPIs) net sold shares worth Rs 830.94 crore, while domestic institutional investors (DIIs) bought equities to the tune of Rs 428.92 crore yesterday, as per provisional data.

Afghan Forces 'Push Back Taliban' From Western City Of Farah
The Taliban claimed the assault on Farah in statement to media, saying they had attacked from multiple directions. Clashes between militants and security forces forced Farah residents to close shops and businesses.

In the sectoral landscape, all the indices except metals pack were trading in the green.

Voltas fell about 7.66%, the most in over 18 months post reporting its quarterly results where the company saw its profits declining.

Among the Nifty50 stocks, Bharti Airtel was the top loser, down 2.57 per cent followed by UltraTech Cement and Wipro, which fell as much as 2 per cent. ICICI Bank, Cipla, Tata Motors, Gail, Sun Pharma, Asian Paints were the other prominent losers in the Nifty.

Shares of Reliance Communications, after Wednesday's plunge, staged a strong comeback by rising 56.87% on reports of settlement talks with Ericsson.

Voltas dropped as much as 8.3 per cent in early morning trade after the air conditioners maker on Thursday reported a 3 per cent fall in its consolidated net profit to Rs 194.19 crore for March quarter as compared to Rs 200.47 crore in the corresponding period previous year.

In the euro zone, stock markets in Germany and France were up in early trade and rose up to 0.47%. The Mid-cap index gained 0.37%.

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