Opening Bell: Sensex drops over 100 points to slip below 37,000 mark

Domestic equity benchmark BSE Sensex dropped over 100 points to fall below the 37,000 mark on Thursday tracking weak cues from other Asian markets amid concerns of a looming global economic slowdown. The 30-share index was trading 127.32 points, or 0.34 per cent, lower at 36,933.05. The broader Nifty too fell 44.80 points, or 0.17 per cent, to 10,873.90 in morning trade. 

In the previous session, the 30-share Sensex settled 267.64 points, or 0.72 per cent, lower at 37,060.37. The broader NSE Nifty too ended 98.30 points, or 0.89 per cent, down at 10,918.70. 

Top laggards in the Sensex pack included Vedanta, Yes Bank, Bajaj Finance, IndusInd Bank, ONGC, Tata Steel, Sun Pharma, HDFC Bank and SBI, which fell up to 3 per cent.

While ITC, L&T, HUL, Kotak Bank, TCS and TechM rose up to 1.37 per cent.           

Foreign portfolio investors sold shares worth a net of Rs 770.81 crore Wednesday, and domestic institutional investors too purchased shares worth Rs 353.97 crore, provisional data showed.

Besides continued fear of a global economic slowdown, investors are also jittery ahead of the Jackson Hole Symposium, scheduled to begin later in the day, traders said.

The rupee, meanwhile, depreciated 10 paise against its previous close to trade at 71.66 in early session.

Elsewhere in Asia, bourses in Hong Kong, Korea, Shanghai and Japan were trading on a negative note in their respective late morning sessions.

While, exchanges on Wall Street ended in the green on Wednesday.

Global oil benchmark Brent crude was trading 0.17 per cent lower at 60.20 per barrel.