Stock market: Sensex drops 106 points as GDP data looms

The 30-share index fell by 85.12 points or 0.25% to 33,639.32 in early trading. The gauge had garnered 964 points in the previous eight sessions.

Breaking eight sessions of gains, the Sensex on Tuesday fell 106 points as investors took profit and adopted a cautious approach ahead of September-quarter GDP data.

Apart from profit booking by participants in recent gainers, sustained foreign fund outflows dampened the sentiment. (File Photo)

The national output numbers are due this week.

Consumer durables, pharma and oil & gas and PSU stocks suffered losses.

The 30-share Sensex after opening a shade higher quickly slipped into the red, but settled down 105.85 points, or 0.31 per cent at 33,618.59.

The index had risen 964 points in the past eight sessions on the back of unabated buying by domestic institutional investors (DIIs) and Moody’s India’s sovereign rating upgrade.

The 50-share NSE Nifty too dropped 29.30 points, or 0.28 per cent, at 10,370.25. Intra-day, it traded between 10,355.20 and 10,409.55.

Global leads were mixed. Concerns about sustained capital outflows by foreign funds remained.