Snapping a four-day rising streak,the BSE benchmark index Sensex fell by over 95 points in early trade today,as funds and retail investors booked profits at prevailing levels amid a weak trend in other Asian markets.
The 30-share index,which had gained over 684 points in the past four sessions,fell by 95.38 points,or 0.57 per cent,to 16,553.67 with stocks of consumer durables,oil and gas and capital goods sectors succumbing to profit-booking.
Similarly,the wide-based National Stock Exchange index Nifty declined by 31.90 points,or 0.63 per cent,to 5,017.75.
Brokers said besides profit-booking by speculators after recent gains and a weak trend on other Asian bourses,US Federal Reserve Chairman Ben Bernanke denting stimulus hopes,mainly influenced the trading sentiment here.
In the Asian region,Hong Kong’s Hang Seng index fell by 0.17 per cent,while Japan’s Nikkei Index by 0.60 per cent in the morning trade today.
PRE-OPEN: Sensex to watch
* The near-month derivative contract for India’s NSE index at Singapore Exchange fell 0.4 percent,while the MSCI Asia ex-Japan lost 1 percent.
* Asian shares edged lower on Friday,hurt by disappointment that Federal Reserve Chairman Ben Bernanke gave no clues on whether a US easing was in the offer,outweighing any positive effect from China rate cuts.
* The S&P 500 ended barely changed on Thursday as optimism about China’s interest-rate cut was offset by Federal Reserve Chairman Ben Bernanke’s comments that dimmed hopes for more U.S. stimulus.
FACTORS TO WATCH
* Reserve Bank of India will auction a new 10-year government bond that will replace the existing benchmark. This is the second new 10-year paper the central bank is auctioning in 7 months,after the existing one touched a large outstanding worth 830 billion rupees. (0930GMT)
* Reliance Industries,Essar Oil’s crude imports.
* RBI Deputy Governor K.C. Chakrabarty to attend the Skoch Summit.(0500GMT)
* India’s Commerce and Trade Minister Anand Sharma will be at an industry body seminar on Foreign Trade Policy. (0630GMT)
* Kaushik Basu,chief economic adviser to the government of India,will deliver a commemorative lecture on trade and development at Export-Import Bank of India. (0230GMT)
* RBI to release its weekly statistical supplement. (1230 GMT)
INDIAN STOCKS TO WATCH
* Suzlon Energy Ltd has signed an expression of interest to develop 2,500 MW of new wind power capacity between 2012-2017 with the government of Karnataka. The investment is worth 150 billion rupees.
* INOX Leisure board will meet on June 15 to consider a proposed merger with Fame India,Big Picture Hospitality Services and Headstrong Films
OTHER FACTORS TO WATCH
* Indian debt/FX factors to watch
* Euro,Aussie deflated by Fed; China data looms
* US crude slips $2 on U.S. stimulus uncertainty
* Foreign institutional investor flows
* For closing rates of Indian ADRs