Sensex retreats from record high on profit booking
The BSE benchmark index Sensex on Wednesday fell from record high levels and was down over 117 points in the afternoon trade on profit booking mainly in capital goods, oil and gas, auto and banking stocks.business Updated: May 14, 2014 15:07 IST
The BSE benchmark index Sensex on Wednesday fell from record high levels and was down over 117 points in the afternoon trade on profit booking mainly in capital goods, oil and gas, auto and banking stocks.
The 30-share index fell by 117.87 points, or 0.49%, to 23,753.36 at midsession today.
The Sensex had touched an all-time intra-day high of 24,068.94 in yesterday's trade after exit polls predicted that BJP-led NDA will form the government at the Centre.
The gauge had soared over 1,527 points in the past three sessions.
The broad-based Nifty of the National Stock Exchange slipped from the psychological 7,100 level by losing 27.85 points, or 0.39%, to 7,080.90. It climbed to an intra-day record high of 7,172.35 in the previous session.
Brokers said the market was in over bought position following recent record setting spree and fell on profit selling in heavy-weights.
Besides, a mixed trend at the other Asian bourses and a weak opening on the European markets, too weighed on the sentiments here, they said.
Major losers, which dragged the Sensex down were BHEL, Larsen and Toubro, Reliance Industries, Axis Bank, ICICI Bank, Infosys, Maruti Suzuki, Mahidnra and Mahindra and Dr Reddy Lab.