Business

Sensex falls 56 points in early trade

Mumbai, Jul 20 (PTI) The benchmark BSE Sensex fell by 56 points in early trade on Monday as funds and retail investors booked profits after recent gains amid a weak trend overseas.

The 30-share index, which had gained 530.41 points in previous three sessions, fell by 56.51 points, or 0.19 per cent, to 28,406.80.

Profit booking in stocks of IT, banking, teck, consumer durables, power and capital goods sectors negatively impacted trading sentiments.

The National Stock Exchange index Nifty slipped below the 8,600-mark by falling 33.25 points, or 0.39 per cent, to 8,576.80.

Brokers said besides profit booking by retail investors and funds after three sessions of gains, a mixed trend in global markets led to decline in domestic stocks.

Apart from that, a cautious stance by participants ahead of the quarterly earnings by several bluechip companies including Infosys and RIL, to be released this week, influenced sentiments, they said.

Among other Asian markets, the Hong Kong market was down 0.23 per cent, while China's Shanghai Composite index shed 0.43 per cent. Financial markets in Japan are closed on Monday for public holiday.

The US Dow Jones Industrial Average ended 0.19 per cent lower on Friday.

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