After breaching 22,000 level for the first time, the benchmark BSE Sensex fell 47 points in early trade today on emergence of profit-booking by funds and retail investors tracking weak cues in other Asian markets.
The 30-share barometer hit psychological 22,000 mark for the first time and moved up for a brief period to touch a new record high of 22,005.54. The Sensex, however, slid afterwards to trade 47.30 points lower at 21,872.49 in early trade.
Stocks of metal, IT, healthcare and auto sectors led the fall.
Similarly, the National Stock Exchange index Nifty, after soaring to a life-time high of 6,548.75 at the outset, succumbed to profit-booking and slipped 39.30 points, or 0.60 per cent, to 6,487.35.
Brokers said apart from emergence of profit-booking by funds and retail investors at record levels, a subdued trend in the other Asian bourses following weak China and Japan’s economic data impacted the sentiment here.
Among other Asian markets, Hong Kong’s Hang Seng fell by 1.42 per cent, while Japan’s Nikkei shed one per cent in early trade.
BSE Sensex edge lower after hitting record high
(Reuters) BSE Sensex briefly hit a record high, crossing 22,000 for the first on Monday on the back of continued strong foreign buying in blue chips such as HDFC Bank, but edged lower soon afterwards on profit-taking and because of falls in regional shares.
Foreign investors posted on Friday their biggest daily purchases since Dec. 9, or a net 25.77 billion rupees ($420.73 million). That marked a 16th consecutive buying session for a net total of about $1.4 billion.
However, both the BSE and NSE edged lower after hitting their respective record highs, tracking a slide in Asian shares on the back of disappointing Chinese trade data and uncertainty over the crisis in Ukraine.