Sensex trips 147 points on profit-booking, weak Asian cues

The benchmark BSE Sensex was trading lower by 147 points in early deals on Monday on profit-booking after recent gains, while weak Asian cues also weighed.

Moreover, caution ahead of GDP data for the June quarter to be released in the day, too influenced trading sentiments.
The 30-share index fell 147.29 points or 0.55 per cent to 26,245.09 as metal, power, realty, PSU, bank, capital goods and auto sector stocks succumbed to profit-booking.

The gauge had risen by 677.72 points in the previous two sessions.

The NSE Nifty dropped 40.90 points or 0.51 per cent to 7,961.05 in early trade.

Brokers said besides profit-booking by participants, a weak trend at other Asian markets after the US Federal Reserve indicated it may go ahead with an interest rate hike in September, dampened trading sentiments.

Among other Asian markets, China’s Shanghai Composite tumbled 2.60 per cent, Japan’s Nikkei fell 1.05 per cent and Hong Kong’s Hang Seng index shed 0.47 per cent in early trade on Monday.

The US Dow Jones Industrial Average ended 0.07 per cent lower in Friday’s trade.

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Source:Thehindu

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