Sensex down 50 points on weak macro data
The Sensex and Nifty were trading marginally down as investors indulged in cutting down their bets on disappointing macroeconomic data and a weak trend in Asian markets.
Moreover, lower-than-expected January-March earnings posted by the country’s second-largest software services company Infosys also dampened the trading sentiment.
Shares of Infosys plunged 2.20 per cent to Rs 947.50 in opening trade.
At 10.35 a.m., the 30-share BSE index Sensex was down 49.92 points or 0.17 per cent at 29,593.56 and the 50-share NSE index Nifty was down 16.6 points or 0.18 per cent at 9,186.5.
Early trade
The 30-share barometer was down 73.15 points, or 0.28 per cent, at 29,570.33 with sectoral indices led by metal, IT, technology, capital goods and FMCG trading in the red, falling up to 1 per cent.
The gauge had lost 144.87 points in the previous session.
On similar lines, the NSE Nifty cracked below the 9,200-level by falling 26.55 points, or 0.28 per cent, to 9,176.90.
Brokers said market mood took a hit after a government data, which was released after trading hours yesterday, showed industrial output falling to a 4-month low of 1.2 per cent in February.
Meanwhile, retail inflation jumped to a five-month high of 3.81 per cent in March.
A weak trend in other Asian markets in line with sell-off in the US on continued geopolitical tensions and comments by President Donald Trump expressing concern about a strong greenback also dented the sentiment here, brokers said.
@financial consultant
Moreover, lower-than-expected January-March earnings posted by the country’s second-largest software services company Infosys also dampened the trading sentiment.
Shares of Infosys plunged 2.20 per cent to Rs 947.50 in opening trade.
At 10.35 a.m., the 30-share BSE index Sensex was down 49.92 points or 0.17 per cent at 29,593.56 and the 50-share NSE index Nifty was down 16.6 points or 0.18 per cent at 9,186.5.
Early trade
The 30-share barometer was down 73.15 points, or 0.28 per cent, at 29,570.33 with sectoral indices led by metal, IT, technology, capital goods and FMCG trading in the red, falling up to 1 per cent.
The gauge had lost 144.87 points in the previous session.
On similar lines, the NSE Nifty cracked below the 9,200-level by falling 26.55 points, or 0.28 per cent, to 9,176.90.
Brokers said market mood took a hit after a government data, which was released after trading hours yesterday, showed industrial output falling to a 4-month low of 1.2 per cent in February.
Meanwhile, retail inflation jumped to a five-month high of 3.81 per cent in March.
A weak trend in other Asian markets in line with sell-off in the US on continued geopolitical tensions and comments by President Donald Trump expressing concern about a strong greenback also dented the sentiment here, brokers said.
@financial consultant
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