Sensex trips 60 pts ahead of key macro data
Mumbai: The benchmark BSE Sensex was down over 60 points in early trade today as investors started scaling down their positions ahead of IIP and inflation data to be released later in the day amid sustained capital outflows.
The 30-share index was trading lower 60.64 points, or 0.23 per cent, at 26,310.34, with metal, realty, healthcare, auto, banking and capital goods leading the fall.
The gauge had plunged 469.52 points in the previous session as participants preferred to reduce their bets on concerns over “deficient” monsoon and a slow credit growth.
Similarly, the Nifty fell 19.40 points, or 0.24 per cent, to 7,945.95.
Brokers said increased selling by investors, coupled with sustained capital outflows by foreign funds ahead of release of key economic data — Index of Industrial Production (IIP) numbers for April and inflation based on consumer price index (CPI) for May — contributed to the slide.
Besides, a mixed trend at other Asian markets, too, influenced trading sentiment here, they said.
Among other Asian markets, Japan’s Nikkei was down 0.06 per cent while Hong Kong’s Hang Seng gained 0.63 per cent in early trade today.
The US Dow Jones Industrial Average ended 0.22 per cent higher in yesterday’s trade on a better-than-forecast retail sales report.