Sensex down 51 points on weak Asian cues

Benchmark BSE Sensex fell about 51 points in early trade on profit-booking in consumer durables, IT, metal and banking stocks amid weak Asian cues as investors turned cautious ahead of key policy meetings of the Federal Reserve and Japanese central bank.

The 30-share index fell 50.70 points or 0.17 per cent to 28,583.80. The gauge had gained 280.96 points in the previous four sessions.

The NSE Nifty broke below the 8,800-mark falling 23.90 points, or 0.27 per cent, to 8,784.50.

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brokers said that besides trimming of positions in recent gainers by participants at existing levels, weak trend in other Asian markets dampened sentiments here as investors awaited upcoming US and Japanese central bank meetings.

Among other Asian markets, Japan’s Nikkei was down 0.70 per cent while Shanghai Composite Index shed 0.30 per cent in morning trade today. Hong Kong’s Hang Seng too fell 0.15 per cent.

The US Dow Jones ended 0.02 per cent lower in yesterday’s trade.