Sensex down 86 pts in early trade on profit-booking
The BSE benchmark Sensex declined by over 86 points in early trade today as funds and retail investors preferred to book profits after Tuesday's gains.business Updated: Sep 26, 2012 09:57 IST
The BSE benchmark Sensex declined by over 86 points in early trade on Wednesday as funds and retail investors preferred to book profits after Tuesday's gains.
Besides, a subdued trend on Asian bourses and Thursday's expiry in the derivatives segment also led dampened the trading sentiments in Mumbai.
The 30-share barometer, which had gained 21.07 points on Tuesday, fell by 86.10 points, or 0.46%, to 18,608.31, with stocks of power, capital goods, metal, banking and auto sectors succumbing to profit-booking.
Similarly, the wide-based National Stock Exchange index Nifty shed 23.40 points, or 0.41%, to 5,650.50.
Brokers said besides profit-booking by speculators after recent gains on the back of economic reforms, a weak trend overseas as the US Federal Reserve head said the central bank's stimulus plan unveiled this month might not boost the economy as much as expected, influenced the sentiments here.
In Asian region, Hong Kong's Hang Seng index fell 0.80%, while Japan's Nikkei Index shed 1.73% in the morning trade.
The US Dow Jones Industrial Average ended 0.75% down in Tuesday's trade.