Mumbai: The BSE benchmark Sensex fell by over 71 points in early trade on 31August on fresh selling by funds ahead of first quarter GDP data.

The 30-share barometer, which had gained 50.83 points in 30 August volatile session, fell by 71.28 points, or 0.41 percent, to 17,470.36. Stocks of IT, power and realty sectors lead the fall.

Similarly, the wide-based National Stock Exchange index Nifty shed 29.15 points, or 0.55 percent, to 5,285.90.

Marketmen said selling by funds and retail investors ahead of first quarter GDP data to be announced later in the day today amid a subdued trend in Asian markets, following weak Japanese economic figures, mainly influenced the trading sentiment.

In Asian region, Hong Kong's Hang Seng index was down by 0.25 percent, while Japan's Nikkei Index lost 1.11 percent in the morning trade on 31August.

The U.S. Dow Jones Industrial Average had ended 0.81 percent lower in 30 August trade.