Sensex down 101 points in opening trade on profit-booking
Snapping a six-session rally, the BSE benchmark Sensex tanked by more than 101 points in opening trade today on emergence of profit-booking by fund and retail investors amid weak Asian markets.business Updated: Sep 14, 2009 11:16 IST
Snapping a six-session rally, the Bombay Stock Exchange benchmark Sensex tanked by more than 101 points in opening trade on Monday on emergence of profit-booking by fund and retail investors amid weak Asian markets.
The BSE-30 share benchmark Sensex, which had gained over 865 points in the past six consecutive sessions, fell by 101.06 points at 16,163.24 in opening trade with realty, metals and oil and gas indices falling up to 1.72 per cent.
Similarly, Nifty on the wide-based National Stock Exchange moved down 30.60 points to 4,798.95 points.
Brokers said emergence of profit-booking by fund as well as retail investors after recording handsome gains in the past six sessions attributed to the decline in stock prices.
Besides, a weak trend on other Asian bourses, which were down up to 2.19 per cent in morning trade, also dampened the trading sentiment on the domestic bourses.
Stocks of non-ferrous metal producer Sterlite Industries were under pressure and fell by 1.13 per cent at Rs 737.50 as copper prices in global markets declined.