Sensex fails to extend yesterday's gains; dips below 17,400
Mumbai: The BSE benchmark Sensex Wednesday declined by nearly 85 points in early trade as participants booked profits amid a weak trend overseas.
The 30-share barometer, which had gained over 56 points in the previous session, fell by 84.84 points, or 0.48 percent, to 17,356.03. All the sectoral indices were trading in the negative zone, with losses up to 0.90 percent.
Similarly, the wide-based National Stock Exchange index Nifty shed 30.15, or 0.57 percent, to 5,243.85.
Brokers said apart from profit-booking by funds and retail investors, a weak trend in the Asian region following overnight losses in Europe and on the Wall Street after a third straight monthly contraction in US manufacturing activity, mainly dampened the trading sentiment here.
In the Asian region, Hong Kong's Hang Seng fell 1.06 percent, while Japan's Nikkei shed 0.72 percent in early trade today.
The US Dow Jones Industrial Average ended 0.42 percent lower in yesterday's trade.