Profit booking drags equity market lower after stellar rise

Mumbai: Profit booking dragged the Indian equities market lower during the afternoon trade session on Tuesday.

At 12.55 p.m., the S&P BSE Sensex was trading at 39,006.54, lower by 83.49 points or 0.21 per cent from the previous close of 39,090.03 points.

The Nifty50 on the National Stock Exchange (NSE) was trading at 11,565.15, lower by 35.05 points or 0.3 per cent from its previous close.

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On Monday, the Sensex gained 1,075 points, taking its two-day advance to nearly 3,000 points as investors continued to pump in money in hopes of improvement in corporate earnings after the government slashed corporate tax rates last week.

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