News Karnataka
Saturday, January 28 2023
Business

Sensex slips below 27000, down 51 pts on shrinking exports

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Mumbai: Shrugging-off positive global cues, the benchmark BSE Sensex fell 51 points to drop below the 27,000-level in early trade today on profit booking amid exports falling for the 10th straight month in September.

Furthermore, profit-booking by participants after yesterday’s gains, dampened sentiments.

The 30-share barometer dipped below the 27,000-mark by declining 51 points or 0.19 per cent to 26,959.14 in early trade today with FMCG, realty, banking and metal sector stocks leading the fall.

The gauge rose by 230.48 points in yesterday’s session.

Also, the NSE Nifty was quoting 17.35 points or 0.21 per cent down at 8,162.15.
Brokers said investors booked profit after weak economic data. India’s exports contracted for the 10th straight month by 24.33 per cent in September to USD 21.84 billion due to steep fall in shipments of petroleum productions, iron ore, and engineering goods amid tepid global demand, negatively impacted sentiments.

In Asian markets, Hong Kong’s Hang Seng was up by 0.41 per cent, Japan’s Nikkei up by 1.13 per cent, while Shanghai Composite index up 0.34 per cent in early trade today.

The Dow Jones Industrial Average ended 1.28 per cent higher in yesterday’s trade.

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