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Sensex down 31 pts in early trade on profit booking

BSE

The BSE benchmark Sensex today fell nearly 31 points in early trade on profit booking

SensexMumbai: The BSE benchmark Sensex today fell nearly 31 points in early trade on profit booking by speculators coupled with weak industrial output data for August.

Snapping its four-day long rising streak, the 30-share index lost 30.71 points, or 0.14 per cent, to 20,497.88 with FMCG, realty, consumer durables and banking stocks succumbing to profit booking.

After recording modest growth in the previous month, industrial output again slowed down sharply to 0.6 per cent in August, mainly on account of a contraction in manufacturing and mining.

The Sensex had gained 633.49 points in the past four sessions.

The wide-based National Stock Exchange index Nifty fell 13.30 points, or 0.21 per cent, to 6,082.90.

Brokers said besides profit booking by participants, industrial output, which had shown some signs of recovery in July again slowed down sharply to 0.6 per cent in August mainly on account of a contraction in manufacturing and mining dampened the trading sentiments.

They said that absence of cues from other Asian markets, as Tokyo and Hong Kong’s exchanges are closed today, also forced funds to adopt a cautious approach.

PTI

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