Sensex Opens Down 54 Points on Profit Booking

Sensex Opens Down 54 Points on Profit Booking
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Mumbai: The benchmark BSE Sensex opened lower on Wednesday after a five-session record-setting spree as investors cashed profits in metal, capital goods, consumer durables, power and banking shares ahead of January month expiry in the derivatives segment on Thursday.

The BSE 30-share barometer dropped by 54.30 points or 0.15 per cent to 36,085.68 in opening trade as index major Reliance Industries, ICICI Bank and Bharti Airtel declined.

The gauge had rallied 1,368.93 points in the previous five back-to-back record-setting sessions on sustained foreign fund inflows. It had closed at record high of 36,139.98 on Tuesday after touching an intra-day high of 36,170.83.

The NSE Nifty index too retreated from record by falling by 26.45 points, or 0.23 per cent, at 11,057.25.

On Tuesday, it had closed at record high of 11,083.70 points after scaling an all-time high (intra-day) of 11,092.90.

Brokers said investors turned cautious and preferred to log gains at record levels ahead of January expiry in the derivatives segment, pulling down the key indices from record highs.

Besides, a weak trend at most of other Asian markets too weighed on the sentiments here, they added.

The laggards were Bharti Airtel, ICICI Bank, Tata Motors, Coal India, Adani Ports, Tata Steel, Asian Paint, Reliance Industries, Infosys, L&T and M&M, falling up to 3.18 per cent.

Meanwhile, foreign portfolio investors (FPIs) continued their buying activity on the domestic bourses here. They bought shares worth a net Rs 1,229.35 crore, while domestic institutional investors (DIIs) made purchases to the tune of Rs 169.03 crore on Tuesday, provisional data showed.

Globally, in the Asian region, Japan’s Nikkei fell 0.56 per cent, while Hong Kong’s Hang Seng shed 0.35 per cent in their early deals. Shanghai Composite Index, however, was up 0.09 per cent.

The US Dow Jones Industrial Average also ended a shade lower on Tuesday’s trade.

PTI