Sensex, Nifty end 0.5% lower as focus shifts to industrial, inflation data
The Sensex picked up cues from a lacklustre Asia as it stumbled 156 points today in the beginning of the week after investors started to take profit ahead of key IIP and inflation numbers due later in the day.business Updated: Jun 12, 2017 17:21 IST
Indian shares closed half a percent lower on Monday amid caution ahead of inflation and industrial output data, due later in the day.
While the BSE Sensex fell 0.53% to 31,095.70, the broader NSE Nifty dropped 0.54% to 9,616.40.
As the week began at the bourse, the Sensex picked up cues from a lacklustre Asia and earlier in the day stumbled 155.91 points 0.49% to 31,106.15, after investors started to take profit, before the key figures are released.
The gauge had gained 48.70 points in the previous session on Friday.
Asian shares traded in the negative territory after polls in the UK threw up a hung Parliament and markets await the results of the first round of France’s parliamentary elections.
Sectoral indices such as technology, IT, capital goods, bank, PSU, power, auto, oil and gas tripped, falling by up to 0.62%. Major IT players felt the heat as Wipro, TCS and Infosys slid by up to 2.08%.
National Stock Exchange’s Nifty too retreated by 45.35 points, or 0.46%, to 9,622.90 early on Monday.
Profit-booking by participants paced up ahead of key macro data - index of industrial production (IIP) for April and consumer price index-based inflation for May are slated for release after market hours today.
A depreciating rupee against the dollar weighed, traders said.
While Japan’s Nikkei was down 0.36%, Hong Kong’s Hang Seng shed 1.02% in Monday’s early trade. China’s main Shanghai Composite was also down by 0.24%.