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Impact of IIP and Inflation Data on Sensex, Nifty

Indian benchmark indices opened marginally lower on Monday as the investors remain cautious ahead of the key macroeconomic data release later in the week and the ongoing pressure on global markets ahead of the US Federal Policy and the sharp fall in the heavyweight technology stocks of US on Friday last week.

BSE Sensex opened marginally lower, down 37 points at 31,225.43 points while NSE Nifty edged below 9,650, down 21 points at 9,646.7 points. The IT index of NSE witnessed a major drop followed by media, bank, auto and FMCG.

Meanwhile, most of the Asian shares which fell in the opening trade with electronics heavyweights such as Samsung Electronics knocked lower by a slide in US tech shares and caution ahead of this week’s US Federal Reserve policy meeting.

The Nasdaq Composite dropped 113.85 points, or 1.8 percent, to end at 6,207.92. The Dow Jones Industrial Average rose 89.44 points, or 0.42 percent, to 21,271.97, while the S&P 500 lost 2.02 points, or 0.08 percent, to 2,431.77.

Apple Inc shares fell 3.9 percent in their biggest daily percentage decline since April 2016. Facebook Inc fell 3.3 percent, its biggest decline since November 2016, and Alphabet ended down 3.4 percent, its worst day since June 2016, Microsoft Corp fell 2.3 percent.

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