Sensex falls 94 points as markets remain cautious ahead of macroeconomic data

Published On: 12, Dec 2017 | Source: Hindustantimes

Key stock indices Sensex and Nifty were cautious on Tuesday as investors looked forward to macroeconomic data due later in the day amid a mixed trend in Asia.

The 30-share index was lower by 94.02 points, or 0.28%, at 33,361.77. It had gained 858.61 points in the previous three sessions.

Banking, power, FMCG and realty turned negative.

The NSE index Nifty went below the key 10,300 mark at 10,291.85, down 30.40 points, or 0.29%.

Unwinding of positions in blue-chip stocks by participants ahead of index of industrial production (IIP) data and retail inflation, to be released after market hours on Tuesday, dragged stocks down.

The Federal Reserve, which is scheduled to issue an interest rate policy update on Wednesday, kicks off its meeting. It is expected to lift rates by 0.25%.

Major losers were Asian Paints, HDFC Bank, ITC, Kotak Bank, Bajaj Auto and SBI, falling by up to 1.92%.

Hong Kong’s Hang Seng shed 0.55% while China’s Shanghai Composite was down 0.57% in early trade. Japan’s Nikkei, however, was slightly up 0.02%.

The US Dow Jones Industrial Average ended 0.23% higher on Monday.