Sensex down 133 points in early trade; banks lead fall
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The BSE benchmark Sensex fell over 133 points and the Nifty slipped below the 8,100-mark in early trade as banking stocks led fall on fresh selling amid mixed Asian cues.
Other sectoral indices like consumer durables, PSU, FMCG and capital goods were trading in the negative zone, falling up to 1.56%.
The 30-share Sensex was trading lower by 133.12 points or 0.50% at 26,183.22 in early trade.
The index had soared 456.17 points in the previous session after investors crated fresh long positions in the new December series amid the rupee rebounding from record lows.
The NSE Nifty was trading down by 23.70 points or 0.29% at 8,090.60.
Brokers said sentiments were dampened with trimming of positions by participants, particularly in banking stocks after the Reserve Bank on Saturday introduced an incremental CRR of 100% for the fortnight to absorb the surge in liquidity in banking system following demonetization of high value notes.
Shares of state-owned SBI was trading lower by 2.68% at Rs 253.95, ICICI Bank fell Rs 1.75 at Rs 255.30, Axis Bank down 1.56% at Rs 464 and HDFC Bank shed 0.28% at Rs 1,185.80, dragged down the key indices.
In Asia, Japan's Nikkei fell 0.80%, while Shanghai Composite Index was quoting 0.32% higher in early trade today. Hong Kong's Hang Seng index too was up 0.77%.
The Dow Jones Industrial Average ended 0.36% higher in Friday's trade.
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