Business
A weak trend ing the overseas market and profit booking by investors also dampened spirits.
Updated : Mar 22, 2018, 02:32 AM IST
The benchmark BSE Sensex is trading in and out of the red zone, gaining only slightly before falling back below the red line, on Tuesday, as investors cut down their bets on disappointing macroeconomic data and weak trend in Asian markets.
The 30-share barometer fell 61.55 points or 0.21% to 28,090.85 in early trade, with IT, teck, consumer durables, capital goods, auto and healthcare trading in the red, falling up to 0.95%. At 1026 hours, the benchmark Sensex was at 28,171.63, up 19.23 points or 0.07% from previous day's close.
On similar lines, the NSE Nifty declined by 25.05 points or 0.28% to 8,647.10.
Brokers said market mood took a hit after a government data, which was released after trading hours on Friday, showed Industrial output grew by 2.1% in June, although down from 4.2% a year ago, on account of poor show by manufacturing and heavy contraction in capital goods.
Retail inflation shot up to nearly two-year high of 6.07% in July, well above the RBI's comfortable level, on surge in prices of food items as demand for sugar, oil & fats and spices rose ahead of the festival season.
A weak trend in other Asian markets on disappointing Japanese second-quarter GDP figures and profit-booking by investors also dampened sentiment here.
Hong Kong's Hang Seng was down 0.12%, Shanghai's Composite index fell 0.35% while Japan's Nikkei shed 0.25% in their early trade.
Meanwhile, the US Dow Jones Industrial Average however ended 0.32% higher in Friday's trade.