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BSE Sensex retreats from record high on profit-booking

BSE Sensex retreated from record high to trade 44 points lower in early trade.

By: Press Trust of India | Mumbai | Published: November 17, 2014 10:24:24 am
The 30-share Sensex, which had gained 106.02 points in the previous session on Friday, slipped by 44.51 points. (Reuters) The 30-share Sensex, which had gained 106.02 points in the previous session on Friday, slipped by 44.51 points. (Reuters)

The benchmark BSE Sensex retreated from record high to trade 44 points lower in early trade today on emergence of profit-booking, mainly in healthcare, IT, banking, capital goods and oil and gas sector stocks amid weak Asian cues.

The 30-share Sensex, which had gained 106.02 points in the previous session on Friday, slipped by 44.51 points, or 0.16 per cent, to 28,002.15 in early trade. The gauge had closed at a record high of 28,046.66 in the previous session on Friday on sustained foreign fund inflows and positive economic data.

In a similar fashion, the NSE Nifty slipped from record high by losing 18.25 points, or 0.22 per cent, to trade at 8,371.65. It closed at a life-time high of 8,389.90 in the previous session.

Brokers said emergence of profit-booking by participants at record levels and lower-than-expected earnings posted by some blue-chip companies pulled down the key indices from record highs.

Besides, a weak trend at the other Asian markets, after data showed Japan’s economy had slipped into recession, too weighed on trading sentiments here, they said.

In the Asian region, Hong Kong’s Hang Seng index fell by 0.40 per cent, while Japan’s Nikkei Index edged lower by 2.59 per cent.

The US Dow Jones Industrial Average ended 0.10 per cent lower on Friday.

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