Sensex down 228 points on weak economic data, global cues
Mumbai: The benchmark BSE Sensex fell by over 228 points and the NSE Nifty dipped below the crucial 7,800- mark in early trade as investors offloaded their positions on disappointing macro data and weak trend in Asian markets.
The 30-share barometer, which gained 123.69 points on the first day of Samvat 2072 in special 'Muhurat' session on Wednesday, was trading lower by 228.41 points or 0.88 per cent at 25,638.54, with all the sectoral indices led by infra, power, banking and realty in the red.
On similar lines, the NSE Nifty slipped below the 7,800- mark by falling 80.75 points or 1.03 per cent to 7,744.25.
Brokers said market mood took a hit after a government data showed that industrial production fell to a four-month low of 3.6 per cent in September due to subdued performance by manufacturing and non-durable consumer goods segments.
Adding to the gloom was inflation, which rose for a third straight month and touched 5 per cent in October. A weak trend in other Asian markets in line with heavy losses in Europe and the US after commodity prices plunged to multi-year lows on worries that softer global growth may exacerbate the supply glut also weighed on the sentiment here.
Hong Kong's Hang Seng was down 2.09 per cent, Shanghai's Composite index fell 1.01 per cent, while Japan's Nikkei shed 0.89 per cent in their early trade. Meanwhile, the US Dow Jones Industrial Average ended 1.44 per cent lower in yesterday's trade.