Sensex drops below 27,000, down 91 pts in early trade

The benchmark BSE Sensex fell over 91 points to crack below the 27,000-level in early trade today due to profit-booking by investors in recent outperformers.

Caution ahead of industrial production data for April, which is due tomorrow, also influenced sentiments. The 30-share barometer tripped by 90.74 points or 0.33 per cent to 26,929.92 in early trade.

The index had risen by 243.21 points in the previous two sessions, buoyed by arrival of monsoon rains in Kerala and continued foreign fund inflows following RBI’s accommodative policy. Sectoral indices led by IT, teck, healthcare, auto and FMCG were trading in the negative zone, falling by up to 1.20 per cent.

Also, the NSE Nifty was trading 23.15 points or 0.27 per cent lower at 8,249.90. Brokers said apart from weak Asian cues, investors booked profit after recent gains, pushing the indices down.

Among Asian markets, Japan’s Nikkei fell 0.91 per cent as worries about the pace of economic growth and a stronger yen weighed on sentiment. Financial markets in Hong Kong and China are closed today for a public holiday.

The Dow Jones Industrial Average ended 0.37 per cent higher in yesterday’s trade on gains in oil prices and as the dollar weakened on expectations the US Federal Reserve will keep benchmark interest rates low for longer.