Sensex down 86 points in early trade on profit-booking
The BSE benchmark Sensex declined by over 86 points in early trade Wednesday as funds and retail investors preferred to book profits after yesterday's gains.
Mumbai: The BSE benchmark Sensex declined by over 86 points in early trade Wednesday as funds and retail investors preferred to book profits after yesterday's gains.
Besides, a subdued trend on Asian bourses and tomorrow's expiry in the derivatives segment also led dampened the trading sentiments here.
The 30-share barometer, which had gained 21.07 points yesterday, fell by 86.10 points, or 0.46 percent, to 18,608.31, with stocks of power, capital goods, metal, banking and auto sectors succumbing to profit-booking.
Similarly, the wide-based National Stock Exchange index Nifty shed 23.40 points, or 0.41 percent, to 5,650.50.
Brokers said besides profit-booking by speculators after recent gains on the back of economic reforms, a weak trend overseas as the US Federal Reserve head said the central bank's stimulus plan unveiled this month might not boost the economy as much as expected, influenced the sentiments here.
In Asian region, Hong Kong's Hang Seng index fell 0.80 percent, while Japan's Nikkei Index shed 1.73 percent in the morning trade.
The US Dow Jones Industrial Average ended 0.75 percent down in yesterday's trade.