Mumbai: Reversing early gains, the Sensex on Thursday declined nearly 22 points today as weak global cues turned investors cautious.
Besides, the market sentiment was hit by the Reserve Bank pegging GDP growth for the current fiscal lower at 7.3 percent and saying that rush for farm loan waivers may have inflationary spillovers.
The 30-share Sensex was trading 21.53 points lower at 31,249.75 in the early deals. The NSE Nifty fell 14.85 points to 9,649.05.
Among the laggards were sectors such as IT, Tech, Realty, Oil and Gas, Power, Bank and PSU, falling up to 2.31 percent.
The market today opened on a positive note, helped by a string of factors like better monsoon forecast and the status quo on policy rates by the RBI yesterday.
The Reserve Bank yesterday kept repo rate unchanged, as widely expected, at 6.25 percent and the reverse repo at 6 percent.
The 30-share barometer in the opening trade rose by 83.23 points, or 0.26 percent, to 31,354.51. The gauge had gained 80.72 points in the previous session.
The NSE Nifty too gained 14.40 points, or 0.15 percent, to 9,678.30 in early trade today.
Cautious trade in Global peers ahead of UK election and testimony from sacked FBI head James Comey on his probe into Donald Trump's links to Russia also influenced sentiment, brokers said.
In the rest of Asia, Japan's Nikkei gained 0.05 percent while Hong Kong's Hang Seng up 0.03 percent in early trade today. Shanghai Composite was trading 0.03 percent higher.
The US Dow Jones Industrial Average ended 0.18 percent higher in yesterday's trade.
