Sensex slides 98 points as govt readies Economic Survey

Bombay Stock Exchange , BSE, 9622.80 points, Goods and Services Tax, GST,

The benchmark Sensex dropped over 98 points and the NSE Nifty slipped below the 8,600-mark in early session today as participants kept their bets to a minimum tracking the Economic Survey due later in the day.

Besides, weak global cues tempered mood. The 30-share index was down 98.02 points, or 0.35 percent, at 27,751.54, with IT, auto, technology, metal and PSU trading in the negative zone, falling by up to 0.92 percent.

The gauge had lost 32.90 points in the previous session. The 50-share NSE Nifty was trading lower by 36.75 points, or 0.43 percent, at 8,596.

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Sentiment remained conspicuously cautious as investors preferred to reduce their positions ahead of the Economic Survey due today and the Union budget tomorrow.

A subdued trend in Asia coupled with a decline on the Wall Street after President Donald Trump’s controversial crackdown on immigration and his plans to overhaul work-visa programmes dampened sentiment further here, traders added.

In the Asian region, most markets are closed today for a public holiday. Japan’s Nikkei was down 1.33 percent in early deals.

The US Dow Jones Industrial Average ended 0.61 per cent lower yesterday.

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