The benchmark BSE Sensex fell over 30 points in early trade on Tuesday on increased selling by funds and retail investors ahead of RBI’s monetary policy review.
Continuing Monday’s weakness, the 30-share index moved further down by 30.38 points, or 0.11 per cent, to 26,566.73, with metal, FMCG, PSU, oil & gas and banking sector stocks leading the fall. The gauge had lost 29.21 points in the previous session. Also, the National Stock Exchange index Nifty shed 11.25 points, or 0.14 per cent, to 7,947.65 in early trade.
Brokers said besides weak trend on other Asian bourses tracking overnight fall in the U.S. markets, selective selling by cautious funds and retail investors ahead of RBI’s policy review later in the day influenced sentiments.
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Among other Asian markets, Hong Kong Hang Seng down 0.40 per cent, while Japan’s Nikkei shed 0.36 per cent in early trade today.
The U.S. Dow Jones Industrial Average ended 0.25 per cent lower in Monday’s trade.