Sensex down by 89 points

The BSE benchmark Sensex was down by 89 points in early trade on Today as lower Asian cues influenced investors to reduce their holdings of capital goods, metal, FMCG, banking and realty stocks.

The BSE benchmark Sensex resumed lower at 17,540.55 and hovered in a range between 17,661.78 and 17,537.06 before quoting at 17,616.08 at 1015 hours, a net loss of 88.93 points, or 0.50 per cent, from its previous close.

The NSE’s 50-share Nifty Index was also down by 30.10 points, or 0.57 per cent, at 5,296.50 at 1015 hours.

The major losers in early trade were Sterlite Industries (down 3.22 per cent), ICICI Bank (2.20 per cent), Larsen & Toubro (2.18 per cent), ITC (1.45 per cent), Tata Steel (1.26 per cent), Jindal Steel (1.11 per cent) and DLF (0.85 per cent).

Meanwhile, most Asian markets began the new month on a relatively subdued note in early trade today. The key benchmark indices in China, South Korea and Taiwan were up by between 0.01 per cent and 0.22 per cent, while indices in Hong Kong, Japan and Singapore were down by between 0.56 per cent and 1.47 per cent.