Sensex trips 60 points ahead of key macro data

Mumbai: The benchmark BSE Sensex was down over 60 points in early trade on Friday as investors started scaling down their positions ahead of IIP and inflation data to be released later in the day amid sustained capital outflows.

The 30-share index was trading lower 60.64 points, or 0.23%, at 26,310.34, with metal, realty, healthcare, auto, banking and capital goods leading the fall.

The gauge had plunged 469.52 points in the previous session as participants preferred to reduce their bets on concerns over “deficient” monsoon and a slow credit growth.

Similarly, the Nifty fell 19.40 points, or 0.24%, to 7,945.95.

Brokers said increased selling by investors, coupled with sustained capital outflows by foreign funds ahead of release of key economic data – Index of Industrial Production (IIP) numbers for April and inflation based on consumer price index (CPI) for May – contributed to the slide.

Besides, a mixed trend at other Asian markets, too, influenced trading sentiment here, they said.

Among other Asian markets, Japan’s Nikkei was down 0.06% while Hong Kong’s Hang Seng gained 0.63% in early trade on Friday.

The US Dow Jones Industrial Average ended 0.22% higher on Thursday’s trade on a better-than-forecast retail sales report.

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