Sensex tumbles 110 points down on profit-booking

Erasing its initial gains, the Bombay Stock Exchange benchmark Sensex dropped by over 110 points at 1145 hrs on Tuesday, on emergence of profit-booking by retailers at prevailing higher levels.

Erasing its initial gains, the Bombay Stock Exchange benchmark Sensex dropped by over 110 points at 1145 hrs on Tuesday, on emergence of profit-booking by retailers at prevailing higher levels.

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The Sensex, which had gained nearly 90 points in the opening trade, was quoting 110.20 points or 0.54 per cent down at 20,450.85 points at 1145 hrs, led by a fall in banking, auto and realty sector stocks. The Sensex had rallied
by over 535 points in the past four sessions.

Similarly, the broad-based National Stock Exchange index Nifty fell by 33.20 points to 6,124.40 level, after rising to
6,181.05 points in the opening trade.

Among banking stocks, the private sector largest lender ICICI Bank fell by 2.53 per cent to Rs 1,114.65 a share, while
state-run State Bank of India was down by 2.45 per cent to Rs 2,751.80 a share.