BSE Sensex continues to decline for 3rd day, drops 131 pts ahead of inflation data

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Rate sensitive stocks like ICICI Bank fall ahead of retail inflation data later in the day. Rate sensitive stocks like ICICI Bank fall ahead of retail inflation data later in the day.
SummaryMajo losers were Tata Motors, Wipro, Bajaj Auto, Cipla and ICICI Bank.

The S&P

Benchmark BSE Sensex dropped further for the 3rd day in the late morning session, moving down 131 points due to persistent selling pressure mainly in auto, metal, IT, Teck and Banking sectors on the back of lower global cues.

The Sensex resumed lower at 21,101.05 and hovered in a range of 21,103.80 and 21,004.89 before quoting at 21,040.69 at 1030hrs, showing a loss of 130.72 points or 0.62 per cent from its last close.

The NSE 50-share Nifty also dropped 42.30 points or 0.67 per cent to 6,265.60 at 1030hrs.

Majo losers were Tata Motors (1.80 pct), Wipro (1.32 pct), Bajaj Auto (1.30 pct), * Cipla (1.14 pct),

ICICI Bank (1.10 pct), Hero MotoCorp (1.09 pct), Bharti Airtel

(1.07 pct), Tata Steel (1.05 pct) and

Tata Consultancy Services (TCS) (1.03 pct).

Meanwhile, Asian shares slipped to a four-week low in their early trade on heightened expectations that the Federal Reserve may act sooner than later to unwind its stimulus after a provisional budget deal in Washington eased some of the fiscal drag on the US economy.

Key benchmark indices in Taiwan, South Korea, Indonesia, Singapore, China, Japan and Hong Kong were off 0.11 per cent to 1.57 per cent

US stocks posted their biggest drop in a month yesterday as traders locked in recent gains after Congress announced the provisional budget deal.

Meanwhile, foreign institutional investors (FIIs) bought shares worth net Rs 962.71 crore yesterday as per the data issued by stock exchanges.

Sensex early trade

Benchmark BSE Sensex index falls 0.61 per cent, while the broader NSE Nifty index is down 0.66 per cent as profit-taking and caution continue for a third day after the record highs hit on Monday.

The BSE Sensex fell 120.35 points to 21,051.06 in early trade today.

Rate sensitive stocks fall ahead of retail inflation data later in the day. ICICI Bank is down 1.3 per cent while

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