Mumbai: Domestic equity benchmark BSE Sensex dropped over 100 points in early trade on Wednesday as investor sentiment dampened further after IMF cut India's growth outlook. On the other hand, HDFC Bank, Yes Bank, PowerGrid, TechM, HUL, SBI and HDFC Bank rose up to 1.69%. According to experts, IMF's downward revision of India's economic outlook hit domestic investor sentiment. The downward revision of 0.3 percentage point for both years reflects a weaker-than expected outlook for domestic demand," the International Monetary Fund (IMF) said in its World Economic Update. Elsewhere in Asia, Shanghai Composite Index, Hang Seng, Nikkei and Kospi were trading in the green in their respective early sessions.

Source: Mint July 24, 2019 04:52 UTC