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Sensex down 75 pts despite positive economic data

Sensex-bse

Mumbai: The benchmark BSE Sensex fell over 75 points in early trade today on profit booking by investors in recent gainers despite positive macroeconomic data.

The 30-share barometer, which had lost 175.40 points in yesterday’s session, was trading down 75.45 points, or 0.28 per cent, at 26,828.66, with metal, IT, teck, banking and auto stocks leading the losses.

On similar lines, the NSE Nifty shed 22.90 points, or 0.28 per cent, at 8,120.70 points.

Brokers said sentiment turned weak despite industrial production grew at a nearly three-year high of 6.4 per cent in August on account of improvement in manufacturing as well as mining activity and better offtake of capital goods.

Retail inflation rising to 4.41 per cent in September, had a negative impact, they said.

A weak trend at other Asian markets after data showed a slump in Chinese imports, fuelling worries about health of Asia’s largest economy also weighed on the sentiments here.

Among other Asian markets, Hong Kong’s Hang Seng was down 0.23 per cent, Shanghai’s Composite index fell 0.30 per cent, while Japan’s Nikkei shed 0.93 per cent in early trade.

The US Dow Jones Industrial Average ended 0.28 per cent higher in yesterday’s trade.