Mumbai, India (BBN) – The Sensex and Nifty trimmed their initial gains and were trading down by nearly 0.4 per cent ahead of January inflation data (CPI) later 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 12.35 pm, the 30-share BSE index Sensex was down 95.41 points or 0.34 per cent at 28,238.84 and the 50-share NSE index Nifty was down 28.75 points or 0.33 per cent at 8,764.80.
Among BSE sectoral indices, realty index fell the most by 1.63 per cent, followed by PSU 1.33 per cent, consumer durables 1.21 per cent and capital goods 0.98 per cent.
On the other hand, IT index was up 0.7 per cent, TECk 0.45 per cent and metal 0.13 per cent.
Top five Sensex gainers were Infosys (+1.28 per cent), Power Grid (+1.18 per cent), TCS (+1.09 per cent), Tata Steel (+0.95 per cent) and NTPC (+0.65 per cent), while the major losers were Coal India (-1.94 per cent), SBI (-1.68 per cent), Adani Ports (-1.41 per cent), Maruti (-1.27 per cent) and ITC (-1.17 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.