Mumbai: The benchmark BSE Sensex fell over 73 points and the NSE Nifty dipped below the 9,200-mark in early trade today as investors indulged in cutting down their bets on disappointing macroeconomic data and weak trend in Asian markets.
Moreover, lower-than-expected January-March earnings posted by the country’s second-largest software services company Infosys also dampened trading sentiment.
Shares of Infosys plunged 2.20 per cent to Rs 947.50 in opening trade despite its January-March FY17 consolidated net profit rose marginally year-on-year to Rs 3,603 crore.
The 30-share barometer was quoting lower by 73.15 points, or 0.28 per cent, at 29,570.33 with sectoral indices led by metal, IT, technology, capital goods and FMCG trading in the red, falling up to 1 per cent.
The gauge had lost 144.87 points in the previous session.
On similar lines, the NSE Nifty cracked below the 9,200-level by falling 26.55 points, or 0.28 per cent, to 9,176.90.
Brokers said market mood took a hit after a government data, which was released after trading hours yesterday, showed industrial output slipped to a 4-month low, contracting 1.2 per cent in February.
Meanwhile, Retail inflation jumped to a five-month high of 3.81 per cent in March.
A weak trend in other Asian markets in line with sell-off in the US on continued geopolitical tensions and comments by President Donald Trump expressing concern about a strong greenback also dented sentiment here, brokers said.
Hong Kong’s Hang Seng was down 0.07 per cent, while Japan’s Nikkei shed 1.14 per cent in early trade. Shanghai Composite Index, however, was almost flat.
Meanwhile, the US Dow Jones Industrial Average ended 0.29 per cent lower yesterday.
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© 2016 State Times Daily Newspaper