Sensex eases 80 pts ahead of IIP data
Mumbai : The benchmark BSE Sensex fell over 80 points and the NSE Nifty slipped below the 8,200-mark in early trade today as participants lightened their bets ahead of the IIP data scheduled for the day amid weak global cues.
The 30-share index was down 80.38 points, or 0.30 per cent, at 26,683.08, with sectoral indices such as IT, technology, auto, banking, healthcare and FMCG being in the negative zone.
The gauge had retreated from a 7-month high by losing 257.20 points in yesterday’s trade after investors booked profit in recent outperformers.
The NSE index Nifty fell 23.35 points, or 0.28 per cent, to trade at 8,180.25.
Traders said a cut-down in positions by cautious participants ahead of release of key economic data — industrial production (IIP) for April — weighed on sentiment.
Moreover, a weak trend at other Asian bourses following overnight losses in the US and European markets dented sentiment.
Elsewhere in Asia, Hong Kong’s Hang Seng shed 0.75 per cent while Japan’s Nikkei was down 0.49 per cent in morning trade today. Financial markets in China are closed today for a public holiday.
The US Dow Jones Industrial Average ended 0.11 per cent lower in yesterday’s trade.