Sensex snaps 2-day winning streak, slips in early trade
Mumbai: Snapping its two-day winning streak, the benchmark BSE Sensex fell over 30 points in early trade today after industrial production declined to 3.4 percent in June and retail inflation rose to 7.96 percent in July.
The 30-share barometer fell by 30.26 points, or 0.11 percent, to 25,850.51 with power, capital goods, realty, consumer durables and banking sector stocks leading the fall.
The index had gained 551.63 points in the previous two sessions.
Similarly, the National Stock Exchange index Nifty moved down by 15.25 points, or 0.19 percent, to 7,711.80.
Brokers said selling activity emerged largely on disappointing economic data as country's industrial production slowed to 3.4 percent in June as against 5 percent in May.
Besides, rising retail inflation to 7.96 percent in July from 7.46 percent in June, dimming rate cut hopes and a mixed trend at other Asian bourses and overnight losses on the Us markets influenced sentiments here.
Among other Asian markets, Hong Kong's Hang Seng index was down by 0.09 percent, while Japan's Nikkei moved up by 0.16 percent in early trade.
The US Dow Jones Industrial Average ended 0.06 percent lower in yesterday's trade.--PTI