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Weak Asian cues, profit taking pull down Sensex

Snapping a five-day rally, the Bombay Stock Exchange benchmark Sensex on Wednesday fell by over 160 points on profit taking amid weak Asian cues.

business Updated: Sep 23, 2009 17:12 IST

, Sep 23 (PTI)

Snapping a five-day rally, the Bombay Stock Exchange benchmark Sensex on Wednesday fell by over 160 points on profit taking amid weak Asian cues.

The bellwether index settled the day lower by 166.93 points from yesterday's close at 16,719.50 as investors booked profits judging the five-day winning was overdone.

Before falling, the Sensex had notched up 672 points in the previous five trading sessions.

Wider National Stock Exchange index Nifty closed down by 50.25 points at 4,969.95. Nifty had settled above the psychological 5,000-mark yesterday.

Marketmen said investors were seen squaring up their pending positions ahead of the monthly expiry in the derivatives segment

They said a weakening trend in Asian region further added to the selling pressure.

Japan's Nikkie lost 0.70 per cent, China's Shanghai index 1.89 per cent and Hong Kong's Hengsang fell by 0.49 per cent.

Among Sensex stocks, Jaiprakash Associates lost 6.34 per cent and Suzlon 6.10 per cent.

Bharti Airtel fell by 3.43 per cent after reports its deal with South Africa's MTN Group might face regulatory hurdles.