Sensex down 44 points amid investor caution, weak global cues
The 30-share barometer, which had gained 21.70 points yesterday, lost 150.63 points, or 0.87 per cent, to 17,093.21 in the early trade.
In thin trade, the benchmark BSE Sensex on Wednesday declined by over 44 points as cautious investors booked profits ahead of industrial growth data and a weak global trend.Sensex, which had gained 22 points yesterday, fell 44.44 points, or 0.26 per cent, to 17,199.40. It had touched the day's high of 17,319.15.The NSE 50-issue index Nifty fell 16.75 points, or 0.32 per cent to 5,226.85, after dipping below 5,200 intra-day.Brokers said investors were cautious ahead of the industrial growth data tomorrow and the Reserve Bank's policy meeting on Tuesday amid weak chances of cut in interest rates.They said a weak trend in the Asian region and concerns over the European debt crisis weighed on investor sentiment.Metal sector suffered the most following a weak trend on the London Metal Exchange. Tata Steel, Sterlite Industries, Sesa Goa and Jindal Steel were prominent losers.Of the 30 Sensex stocks, 18 closed in losses. Heavyweight Reliance Industries dropped by 1.36 per cent.