Sensex down 129 points in early trade on profit booking
The Sensex had rallied by 702.76 points to 29,648.99 in the last week after the BJP's big win in the key state of Uttar Pradesh.
Mumbai: The benchmark BSE Sensex fell almost 129 points in early trade today due to profit booking by investors after recent strong gains.
The 30-share barometer declined 128.72 points, or 0.43 percent, to 29,520.27 points, with shares of IT, Teck, metal, banking, oil & gas and capital goods trading with losses.
The index had gained 250.88 points in the last two sessions.
Also, the NSE Nifty fell by 31.55 points, or 0.34 percent, to 9,128.50.
Brokers said investors booked profits after recent strong rally in stocks.
The Sensex had rallied by 702.76 points to 29,648.99 in the last week after the BJP's big win in the key state of Uttar Pradesh. The Nifty gained 225.50 points, or 2.52 percent to finish new closing peak at 9,160.05.
In the Asian region, Japan's Nikkei fell 0.35 percent and China's Shanghai Composite index was down 0.02 percent while Hong Kong's Hang Seng rose by 0.53 percent in early trade today.
The Dow Jones Industrial Average ended 0.10 percent lower on Friday.