Sensex down 31 points in opening trade

Dec 04 2012, 09:51 IST
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Sensex fell by 31.29 points, or 0.16 per cent, to 19,274.03 in first five minutes of trading. (Reuters) Sensex fell by 31.29 points, or 0.16 per cent, to 19,274.03 in first five minutes of trading. (Reuters)
SummarySensex fell by 31.29 points, or 0.16 per cent, to 19,274.03 in first five minutes of trading.

The BSE benchmark Sensex fell by over 31 points in the opening trade today as investors preferred to adopt a cautious approach ahead of the vote on FDI in Parliament and trimmed their positions.

The 30-share index, which had lost 34.58 points in the previous session, fell by 31.29 points, or 0.16 per cent, to 19,274.03 in first five minutes of trading. Similarly, the wide-based National Stock Exchange Nifty Index shed 8.70 points, or 0.14 per cent, to 5,862.25.

Brokers said besides profit-booking by investors after recent hefty gains, a cautious approach ahead of voting in Parliament on Foreign Direct Investment (FDI) in retail dampened the sentiments.

Further, a weakening trend on the other Asian markets in line with overnight losses on the US markets after poor data in the manufacturing sector in November triggered selling, they said.

Meanwhile, in the Asian region, Japan's Nikkei was down by 0.33 per cent, while Hong Kong's Hang Seng index shed 0.14 per cent. The US Dow Jones Industrial Average ended 0.46 per cent lower in yesterday's trade.

Stocks to watch-Dec 4

GLOBAL MARKETS ROUNDUP

Nifty futures on the Singapore Exchange 0.14 percent lower. The MSCI-Asia Pacific index excluding Japan is also 0.32 percent down.

U.S. stocks struggled to extend the previous week's gains, dropping on Monday as disappointing U.S. factory numbers dampened optimism about China's economic growth. Asian shares dipped on Tuesday after U.S. Manufacturing activity hit a three-year low in November, while the euro hovered near a six-week high on optimism over a planned debt buy back by Greece.

FACTORS TO WATCH

The lower house of India's parliament begins a debate on supermarket reform.

RBI Deputy Governor Subir Gokarn to address economic conclave at 0430GMT.

India's Supreme Court to issue order in Sahara case.

INDIAN STOCKS TO WATCH

MACRO/POLICY

The Indian navy is prepared to deploy vessels to the South China Sea to protect India's oil interests there, the navy chief said on Monday amid growing international fears over the potential for naval clashes in the disputed region.

Reserve Bank Deputy Governor Subir Gokarn said the fiscal deficit is likely to be around 5.5 percent of the GDP this financial year, which is creating stress on the inflation front.

India's foreign direct investment inflows more than doubled to $4.67 billion in September, according

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