Sensex shrugs off positive inflation data; down 55 points
Both wholesale and retail inflation fell to historic lows in August, but markets have discounted the positive data.
The benchmark BSE Sensex fell close to 55 points in early trade today on profit-booking by investors despite positive macroeconomic data points.
A mixed trend at other Asian markets as investors turned cautious ahead of the US Fed rate decision later this weekweighed.
The 30-share barometer, which had gained 246.49 points in Monday's session, was trading down 54.91 points, or 0.21%, at 25,801.79, with metal, banking, auto and power sector stocks leading the losses.
On similar lines, the NSE Nifty shed 27.15 points, or 0.34%, at 7,845.10.
Brokers said sentiment turned somewhat weak as investors booked profits after Monday's gains even as retail inflation fell to a new low of 3.66% in August, which may prompt the Reserve Bank to cut rates at its September 29 policy meet.
Among other Asian markets, Hong Kong's Hang Seng was down 0.27% while Shanghai's Composite index fell 2.42%, but Japan's Nikkei was up 1.33% in early trade.
The US Dow Jones Industrial Average ended 0.38% lower in Monday's trade.