Markets fail to extend gains; Nifty falls below 5,700
Mumbai: The BSE benchmark Sensex fell by over 127 points in opening trade on Wednesday on emergence of profit selling by funds and retail investors amid a weakening trend on Asian bourses.
The 30-share Sensex, which had gained 84.38 points yesterday, fell by 127.22 points, or 0.68 percent, to 18,666.14.
Likewise, the wide-based National Stock Exchange Nifty shed 43.20 points, or 0.76 percent, to 5,661.40.
Brokers said Sensex rose as funds and retail investors indulged in profit-selling amid a weak trend on Asian bourses following overnight losses at the US market.
They said US stocks fell on Tuesday, led by losses in technology, after brokerage downgrades major companies as worries increased about third-quarter US earnings.
Meanwhile, in Asian region, Japan's Nikkei was down by 1.69 percent, while Hong Kong's Hang Seng index shed 0.49 percent.
The US Dow Jones Industrial Average ended 0.81 percent lower in overnight trade.