Photo: The Hindu Business Line
Chennai, India (BBN) - The benchmark BSE Sensex was trading down by nearly 60 points as investors tightened their exposure due to weak macroeconomic data.
Also, traders remained wary ahead of Fed policy statement to be announced later today, reports The Hindu Business Line.
Data released on Tuesday showed that factory output slowed to a three-month low of 2.2 per cent in October, with negligible growth in mining and subdued expansion in manufacturing and electricity.
Also, retail inflation breached the central bank’s limit and shot up to a 15-month high of 4.88 per cent in November, against 3.58 per cent a month earlier, led by rising food prices. Consumer food price index inflation jumped up to 4.42 per cent in November, against 1.9 per cent in October.
At 10.35 a.m., the 30-share BSE index Sensex was down 57.71 points or 0.17 per cent at 33,170.28, while the NSE index Nifty was down 14.75 points or 0.15 per cent at 10,225.40.
Asian shares were treading water in early trade on Wednesday as crude oil futures steadied after a selloff, while a widely expected interest rate hike from the Federal Reserve underpinned the dollar.
MSCI’s broadest index of Asia–Pacific shares outside Japan was a few ticks higher in early trade.
Japan’s Nikkei stock index edged down slightly, shrugging off data that showed Japanese core machinery orders rose a more-than-expected 5 per cent in October in a sign of resilient capital spending.
On Wall Street on Tuesday, the Dow Jones Industrial Average and the S&P 500 both notched record closing highs, though the Nasdaq Composite shed 0.19 per cent.
BBN/MMI/ANS