Sensex slips from record, edges down on F&O expiry

Stock markets came off their peak and turned weak today after three back-to-back sessions of gains as the benchmark Sensex slipped in view of April derivatives expiry.

PTI| Last Updated: Apr 27, 2017, 10:20 AM IST

Mumbai: Stock markets came off their peak and turned weak today after three back-to-back sessions of gains as the benchmark Sensex slipped in view of April derivatives expiry.

Besides, weak Asian cues weighed on sentiment. Investors are looking forward to US President Donald Trump's plan for the US tax system.

The 30-share index hit yet another record high (intra- day) of 30,184.22 points, but slumped to quote down 32.44 points, or 0.11 percent, at 30,100.91 as profit-booking set in.

The gauge had gained 768.05 points in the previous three sessions.

Maruti Suzuki was trading lower by 0.15 percent at Rs 6,397.50 as cautious investors cut down their bets ahead of the quarterly earnings to be released later in the day.

BSE indices led by metal, oil and gas, bank, PSU and capital goods declined.

The NSE Nifty was lower by 9.90 points, or 0.11 percent, at 9,341.95 after rising to 9,363.40 in the beginning.

Squaring-up of positions by participants -- today being the last trading session of April series contracts in the derivatives segment -- and weak Asian cues dampened sentiment here.

Major losers were Axis Bank, Lupin, ICICI Bank, Bharti Airtel, Asia Paints, HDFC and ITC, falling by up to 1.60 percent.

Among other Asian markets, Hong Kong's Hang Seng shed 0.16 percent while Shanghai Composite Index shed 0.68 percent in early trade. Japan's Nikkei too was down 0.24 percent.

The US Dow Jones Industrial Average ended 0.10 percent lower yesterday.