Sensex down 125 points in opening trade on profit-booking
The Bombay Stock Exchange benchmark Sensex fell over 125 points in early trade on Tuesday as foreign funds and retail investors preferred to book profits after witnessing strong rally in the past few sessions.
Mumbai: The Bombay Stock Exchange benchmark Sensex fell over 125 points in early trade on Tuesday as foreign funds and retail investors preferred to book profits after witnessing strong rally in the past few sessions.
However, firming trends in global markets restricted losses on the domestic bourses here.
The BSE 30-share benchmark Sensex, which had gained over 940 points in the past two sessions, fell by 125.76 points at 15,065.25.
Similarly, the Nifty index on the wide-based National Stock Exchange lost 29.35 points to 4,472.90.
Stocks of IT, realty, metals and auto sectors, which had risen sharply in the recent run-up, succumbed to profit-taking.
Market analysts said emergence of profit-booking by major players including foreign funds at existing higher levels, mainly led to a fall in select stocks.
Among software exporters, Infosys Technologies fell by 1.57 percent at Rs 1,941.70 and TCS Ltd by 0.96 percent at Rs 495.30 but Wipro surged 1.08 percent at Rs 465 on hopes of encouraging results.
Further, Reliance Industries fell by 0.18 percent at Rs 2,027, Rcom by 0.30 percent at Rs 269.20, Sterlite Industries by 2.72 percent at Rs 593.40, Tata Steel by 2.45 percent at Rs 381.50, State Bank of India by 1.18 percent at Rs 1,700.80, ICICI Bank by 0.57 percent at Rs 782.65 and DLF Ltd by 2.02 percent at Rs 343.65.
Bucking the trend, Dr Reddy`s Laboratories quoted 2.03 percent higher at Rs 807 ahead of their quarter earnings.
The US Dow Jones Industrial Average ended 1.19 percent higher yesterday while Japan`s Nikkei was up 1.4 percent in the morning trade today.