Mumbai, India (BBN) – The Sensex and Nifty trimmed their initial gains and were trading marginally down ahead of January inflation data (CPI) later on Monday.
Investors turned cautious after disappointing index of industrial production (IIP) number which contracted by 0.4 per cent in December 2016 and manufacturing growth dipped by 2 per cent, reports The Hindu Business Line.
At 2.45 pm, the 30-share BSE index Sensex was down 15.55 points or 0.05 per cent at 28,318.70 and the 50-share NSE index Nifty was down 4.95 points or 0.06 per cent at 8,788.40.
Among BSE sectoral indices, consumer durables index fell the most by 1.32 per cent, realty 1.27 per cent, PSU 0.96 per cent and capital goods 0.66 per cent.
On the other hand, IT index was up 0.76 per cent, TECk 0.55 per cent, power 0.22 per cent and metal 0.19 per cent.
Top five Sensex gainers were Power Grid (+1.65 per cent), Infosys (+1.31 per cent), HUL (+1.12 per cent), M&M (+1.09 per cent) and Wipro (+0.96 per cent), while the major losers were SBI (-1.76 per cent), Coal India (-1.62 per cent), Maruti (-1.24 per cent), ITC (-1.08 per cent) and Asian Paints (-1.05 per cent).
The dollar rose against the yen on Monday on relief that US President Donald Trump set aside tough campaign rhetoric over security and jobs in a smooth meeting with Japanese Prime Minister Shinzo Abe, with no mention of currency policy.
Asian stocks ticked up, helped by renewed optimism over Trump’s tax reform plans, generally upbeat global economic data and Trump’s change of tack to agree to honour the “one China’’ policy.