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Trade data subdues sentiments; Sensex falls 169 points

By FnF Correspondent | PUBLISHED: 17, Aug 2015, 16:08 pm IST | UPDATED: 17, Aug 2015, 16:08 pm IST

Trade data subdues sentiments; Sensex falls 169 points

Mumbai: A sharp fall in the last month's trade data subdued investor sentiment, leading a barometer index of the Indian equity markets to fall 169 points during the mid-afternoon session on Monday.

The barometer 30-scrip sensitive index (Sensex) of the S&P Bombay Stock Exchange (BSE) fell 0.60 percent as profit bookings followed a healthy rally on August 14.

The Sensex had rallied 518 points on August 14, on the back of expectations on further economic reforms and healthy macro-data.

Bearish sentiments also ruled on the wider 50-scrip Nifty of the National Stock Exchange (NSE). It was down 37.60 points or 0.44 percent at 8,480.95 points.

The S&P BSE Sensex which opened at 28,093.54 points, was trading at 27,898.41 points (at 1.45 p.m.), down 168.90 points or 0.60 percent from the previous day's close at 28,067.31 points.

The Sensex touched a high of 28,095.97 points and a low of 27,739.13 points in the intra-day trade so far.

Analysts cited the sharp fall in the exchanges as a reaction to July's trade data and profit booking.

"The markets reacted negatively to the fall in July trade data. The trade data showed a sharp fall. The fall comes at a times when international markets are slowing down, Asian currencies are devaluing and commodity prices are shrinking," Anand James, co-head, technical research desk, Geojit BNP Paribas told IANS.

Exports during last month fell by 10.30 percent at $231.37 billion from $257.92 billion during July, 2014. Exports during June stood at $222.89 billion.

"There was also profit booking after Friday's rally. Investors were seen reluctant to chase higher prices due to uncertain international markets and no new triggers," James added.