BSE Sensex fell over 150 points in early trade today on selling by foreign funds and retail investors ahead of March quarter GDP data release amid a mixed trend in the Asian region.
The 30-share barometer fell by 150.27 points,or 0.74 per cent,to 20,065.13 with stocks of FMCG,banking,auto and capital goods sectors leading the fall. The index rose 67.76 points in the previous session.
Similarly,the wide-based National Stock Exchange index Nifty declined by 49.00 points,or 0.80 per cent,to 6,075.05.
Trading sentiment turned bearish after participants indulged in selling ahead of the GDP data,to be released later today,brokers said.
Besides,weakening rupee which hits one-year low against the dollar and a mixed trend in the Asian region,triggered selling,they said.
In the Asian region,the Japan’s Nikkei rose 0.86 per cent,while Hong Kong’s Hang Seng shed 0.04 per cent in early trade. The US Dow Jones Industrial Average ended 0.14 per cent higher in yesterday’s trade.
Indian stocks to watch-May 31
GLOBAL MARKETS ROUNDUP
* Nifty futures on the Singapore Exchange are 0.05 percent up and the MSCI-Asia Pacific index excluding Japan is 0.05 percent lower.
* Asian shares recovered on Friday as global markets recovered overnight after lacklustre US data eased concerns about an early end to the Federal Reserve’s strong stimulus programme which has sharpened investor appetite for risk.
* US stocks rose on Thursday,rebounding from the previous session’s losses,as tepid economic data eased concerns the US Federal Reserve would begin to gradually scale back its policy of stimulating growth.
FACTORS TO WATCH
* India will release the GDP data for the quarter through March. According to a Reuters poll of economists,GDP grew an annual 4.8 percent in the quarter,only slightly better than the 4.5 percent growth in the previous three months,which was the lowest in 15 quarters. (0530 GMT)
* India will release the infrastructure output data for April. (0730 GMT)
* India is likely to release the fiscal deficit data for April-March. (0730 GMT)
INDIAN STOCKS TO WATCH
India cbank warns on prices,current account; rattles market
India to ease regulations for securities borrowing,lending
India hopes inflation-linked bonds can reduce demand for gold.
India central bank tightens rules on managing bad loans.
Bharti Airtel set to sell stake in landline,enterprise business to cut debt.
Centre plans to split 555-km project,rejects GMR’s restructuring proposal.
Cairn India seeks right of first refusal on Rajasthan block for Shale gas exploration.
Coal India board nod to ink supply pacts without purchase agreements.
ONGC,Shell set to split $6 bln Mozambique gas buy.
Lenders restructure 145 bln rupee loan for Reliance Power’s Sasan UMPP .
India’s Fortis Healthcare posts March-qtr net loss.
Bharat Electronics Jan-March net up 77.54 pct.
India’s Mahindra says growing competition to hit market share.
Indian Hotels posts Q4 net loss on provisions.
India’s Unitech Q4 net profit jumps 13 times.