Sensex down 79 points in early trade; power stocks up

The BSE benchmark Sensex today lost over 79 points in early trade on increased selling by funds and retail investors even as industrial production grew 2.6 per cent in July and retail inflation eased.
The 30-share index fell by 79.67 points, or 0.40 per cent, to 19,702.21 in early trade with banking, realty, oil and gas and consumer durable stocks leading the fall.
The wide-based National Stock Exchange index Nifty moved down by 20.85 points, or 0.36 per cent, to 5,829.85.
Brokers said selling by participants despite better-than-expected industrial data for July month mainly led to a fall in select stocks.

Industrial production grew 2.6 per cent in July, expanding for the first time in three months, on improved performances in the manufacturing and power sectors.
The BSE Power sector index rose 0.63 per cent to 1,487.39 with stocks of Adani power rising 2.58 per cent, Tata Power 2.16 per cent, while Reliance Power gaining 1.25 per cent.

Besides, profit-booking by speculators after recent gains and a weakening trend in the Asian region also weighed on the sentiments, they said.
In the Asian region, Hong Kong's Hang Seng fell 0.59 per cent, while Japan's Nikkei was down 0.31 per cent in early trade.

The US Dow Jones Industrial Average ended 0.17 per cent down in yesterday's trade.