Sensex, Nifty Fall Amid Weak Global Cues

The benchmark indices struggled in the early trade amid weak global cues and disappointing IIP data for the month of August which came in below expectation at 0.4%. The BSE Sensex was down by 155 points at 26142, on the similar lines the NSE Nifty declined by 39 points at 7820. In the broader markets, the BSE mid-cap and small-cap indices were seen trading in the negative territory, down by 0.02% and 0.16% respectively. The overall market breadth on BSE was negative as 801 shares advanced and 1121 shares declined.

Tracking the momentum of the sectoral indices, BSE IT was the top sectoral gainer, up by 0.68%. Among the gainers, Infosys was up by 1.33% after posting higher than expected Q2 result. TCS was up by 1.25%. Future retail was up by 2.67% after the company signed a pact with Amazon to jointly sell goods. Among the losers, DLF was trading down by 4.88% after Delhi High Court dismissed CCI's jurisdiction to investigate. Cipla, Wipro and M&M were also seen trading in the negative bias, down by 2.38%, 2.39% and 2.57% respectively.

Further a weak trend was seen in the Asian markets. All the indices were seen trading in the negative zone. Japan's Nikkei, Hong Kong's Hang Seng and China's Shanghai were down by 1.15%, 0.43% and 0.69% respectively.