Sensex down 95 points on profit-booking, weak Asian cues
The BSE benchmark Sensex opened over 95 points lower today as speculators booked profits made after two sessions of gains amid a weakening trend on other Asian bourses.business Updated: Jun 08, 2011 09:57 IST
The BSE benchmark Sensex opened over 95 points lower on Wednesday as speculators booked profits made after two sessions of gains amid a weakening trend on other Asian bourses.
The 30-share barometer, which gained nearly 120 points in the previous two sessions, fell by 95.18 points, or 0.51%, to 18,400.44, with FMCG, banking, IT and capital goods stocks leading the decline.
Similarly, the wide-based National Stock Exchange Nifty index moved down by 29.65 points, or 0.53%, to 5,526.50 points.
According to market experts, the fall in stock prices was mostly due to the emergence of profit-booking following two sessions of gains, besides the absence of positive cues.
In addition, a subdued trend on other Asian bourses following overnight losses in the US market dampened the market sentiment at home.
In Asia, Hong Kong's Hang Seng index shed 0.93% and Japan's Nikkei was trading 0.32% down this morning. In the US, the Dow Jones Industrial Average ended 0.16% lower in Tuesday's trade.