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Nifty retreat from record levels on profit booking

The benchmark BSE Sensex retreated from record levels to trade lower by 56 points in early session on Tuesday as realty, auto, healthcare and metal stocks fell after participants booked profits.

The 30-share index fell by 56.19 points or 0.17 percent to 32,577.45 in early trading. It had opened higher at 32,654.41 and advanced to a high of 32,659.32 in opening trade.

The gauge garnered 799.65 points in the previous three days to scale all-time high of 32,633.64 after touching intra-day record of 32,687.32 yesterday.

The wider Nifty of NSE too slipped from record by falling 8.80 points or 0.09 percent to 10,222.05 after touching a high of 10,239.25 at the outset.

Fresh weakness in the rupee against the dollar and continued foreign fund outflows dampened the sentiment, brokers said.

Among major Sensex losers, Tata Motors, ONGC, M&M, Infosys, Dr Reddy’s, Cipla, HDFC Bank, HDFC Ltd and Tata Steel fell up to 1.11 percent, dragging the index into the negative terrain.

In the Asian region, Japan’s Nikkei rose 0.17 percent, Shanghai Composite Index up 0.06 percent and Hong Kong’s Hang Seng gained 0.14 percent in their early deals.

The US Dow Jones Industrial Average ended 0.37 percent higher yesterday.

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