Sensex Sheds Over 70 Points, Nifty Below 10,450
The stock markets traded with losses on Monday after industrial production slipped to a three-month low. In early trade, the S&P BSE Sensex had reclaimed the key 35,000-mark at 35,008.65 but soon fell in trade. At 10:16 am, the 30-share Sensex traded at 34,654.22, down 79.36 points or 0.23 per cent, while the broader Nifty index of the National Stock Exchange (NSE) was at 10,445.65, with a loss of 26.85 points or 0.26 per cent. Twenty eight stocks in the Nifty50 traded with losses.
Losing between 2.15 and 3.95 per cent, GAIL, Hindustan Petroleum, Hindustan Unilever, Eicher Motors and Mahindra and Mahindra were the top five Nifty losers.
Banking, auto, financial, and consumer stocks lost as much as 0.82 per cent on the NSE.
Uncertainty is still intact in markets, experts said.
"Emphasis should be placed on the earnings, movement in currency and also global markets for further indications. Traders are advised to go for a directional view on the indices. One should look for a stock specific action," said Ritesh Ashar, Chief Strategy Officer, KIFS Trade Capital.
Meanwhile, the rupee broke three-day gaining trend to trade 36 paise lower against the US dollar.
In the global markets, MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.8 per cent while Shanghai shares were down 0.4 per cent in early trade, reported news agency Press Trust of India.
On Friday, industrial production slipped to a three-month low of 4.3 per cent in August, while retail inflation gained marginally to 3.77 per cent in September.
On Friday, Sensex had ended 732 points higher at 34,733 while the Nifty had settled at 10,472, up 237 points. According to provisional data from the NSE, foreign portfolio investors sold and domestic institutional investors purchased net shares of Rs 1,322.13 crore and Rs 1,287.29 crore respectively, in the previous session.
