Sensex goes below 26K, down 122 points as Asian cues lie low

Mumbai: The benchmark BSE Sensex gave up over 122 points to fall below the 26,000-level in early trade on Wednesday due to profit-booking by investors and weak Asian cues.

Caution ahead of expiry of April series contracts in the derivatives segment tomorrow influenced sentiment.

The 30-share barometer was down by 122.06 points, or 0.46 percent, to 25,885.24 in early trade, with sectoral indices led by banking, power and healthcare trading lower.

The index had risen 328 points yesterday, tracking a recovery in global stocks and oil prices.

The NSE Nifty dropped by 22.10 points, or 0.27 percent, to 7,940.55.

Brokers said apart from profit-booking, a weak trend in Asia amid caution ahead of a closely watched Federal Reserve policy announcement later in the day and the start of Bank of Japan policy meeting mainly pulled the indices down.

Japan's Nikkei fell 0.59 percent while Hong Kong's Hang Seng shed 0.31 percent in early trade today. Shanghai Composite was quoting almost flat.

The Dow Jones Industrial Average ended 0.07 percent higher in yesterday's trade.