Sensex down 50 points in early trade

The benchmark Sensex declines by over 50 points following profit-taking by funds and general investors.

The stock market opened on a weak note on Wednesday with the benchmark Sensex declining by over 50 points following profit-taking by funds and general investors.

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The BSE-30 share index, Sensex, which had gained more than 208 points on Tuesday, was down by 50.10 points at 14,086.62 in the first five minutes of trading.

Similarly, on the wide-based National Stock Exchange, Nifty was down by 15.95 points at 4125.85.

Stock brokers said apart from profit-taking by funds at higher levels, weakening trends at other Asian markets also had its impact on the trading sentiments here.

Major losers were MTNL, Satyam, computers, ITC Ltd, Tata Consultancy and Tata Steel. However, Tata Motors and ACC maintained their upward journey on sustained buying.