Sensex down 55 points in early trade on profit-booking

September 17, 2013 10:15 am | Updated June 02, 2016 12:48 pm IST - Mumbai

BL 8-8-2005 MUMBAI: A stock brocker looks at a trading chart on a computer screen during trading session in Mumbai 08 August 2005  shares fell for the second consecutive day  Sensex index closing 147.83 points down.  Photo by Paul Noronha

BL 8-8-2005 MUMBAI: A stock brocker looks at a trading chart on a computer screen during trading session in Mumbai 08 August 2005 shares fell for the second consecutive day Sensex index closing 147.83 points down. Photo by Paul Noronha

The benchmark S&P BSE Sensex fell over 55 points in early trade on Tuesday on profit-booking by funds and retail investors as rising inflation faded hopes of a rate cut by the Reserve Bank.

The 30-share index fell by 55.25 points, or 0.28 per cent, to 19,687.22 in early trade with shares of banking, capital goods, FMCG and realty leading the fall. Sensex had gained 9.71 points in the previous session.

Similarly, the wide-based National Stock Exchange index Nifty declined by 19.40 points, or 0.33 per cent, to 5,821.15.

Brokers said selling by funds as well as retail investors after rise in August wholesale inflation dashed hopes of RBI cutting rates later this week and a mixed trend in Asian region ahead of the US Federal Reserve’s policy meeting, mainly attributed to the fall.

The Fed is to hold a policy meeting on Tuesday and Wednesday amid speculation it will start reeling in its USD 85 billion-a-month bond-buying programme.

In the Asian region, Hong Kong’s Hang Seng index fell by 5.50 points, while Japan’s Nikkei Index was up by 52.32 per cent in early trade on Tuesday.

The US Dow Jones Industrial Average ended 0.77 per cent higher in Monday’s trade.

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