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Sensex down 300 pts from day's high, Nifty below 23,050: Weak global cues among key factors behind market paring gains

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Core Development: Sensex down 300 pts from day's high, Nifty below 23,050: Weak global cues among key factors behind market paring gains
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The benchmark equity indices Sensex and Nifty pared some of their sharp early gains after noon on Friday, amid weak global cues.

The Sensex had jumped 591.55 points or 0.79 percnt to 74,742.59 in early trade. The Nifty climbed to 23,118.10, up 181.35 points or 0.79 percent.

At around 2:30 p.m., the Sensex was up 395.51 points or 0.53 percent at 74,546.55, while the broader Nifty traded at 23,062.30, up 125.55 points or 0.55 percent.

1) Weak global cues: Asian markets were down, with South Korea's Kospi falling up to 4 percent and Shanghai's SSE Composite index declining 1.5 percent. Japan's Nikkei 225 dropped more than 2 percent.

US stock futures fell for a second day after another round of disappointing tech earnings accelerated a rotation out of the sector, amid signs that America’s tech giants' core businesses are slowing as they pour money into artificial intelligence.

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Official Publisher Attribution: This report is aggregated from Moneycontrol. ZeroLive provides live aggregation, automated sentiment synthesis, and exchange disclosure monitoring for retail market participants.
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