Sensex extends losses, down 153 points in late morning trade

Mumbai: The benchmark BSE Sensex extended losses in the late morning deals and was trading lower by 153.24 points following sustained selling in metal, energy, telecom, oil and gas, FMCG and Auto sectors amid weak Asian cues.

Market turned volatile on Asian weakness following Donald Trump's failure to push through his key healthcare legislation raised doubts whether he will be able to push through tax reforms and mega-spending packages.

The Sensex opened lower at 29,395.68 and hovered between 29,420.70 and 29,247.56. It was quoting at 29,268.16 at 1100 hrs, showing a loss of 153.24 points or 0.52 per cent. The NSE 50-share Nifty also fell 49.50 points or 0.54 per cent to quote at 9,058.50, 1100 hrs.

Major losers were, Tata Steel 2.84 per cent, Coal India 2.28 per cent, Reliance 2.03 per cent, Tata Motors 1.46 per cent, Asian Paint 1.42 per cent and SunPharma 1.39 per cent. Foreign portfolio investors (FPIs) bought shares worth Rs 543.35 crore on last Friday, as per provisional data released by the stock exchanges.

Globally, Asian markets were mostly lower after President Trump suffered a legislative defeat last Friday when Republican leaders pulled a bill to overhaul the US health care system.

The US stocks ended lower last Friday, as House Republicans withdrew the American Health Care Act after determining that they did not have enough votes to pass the bill.