Retreating from its record high level, the benchmark BSE Sensex lost over 200 points in morning trade on Tuesday on profit-booking in recent gainers amid weak leads from global markets. The 30-share BSE benchmark index fell as much as 248.85 points to hit an intraday low of 36,034.40. The Sensex had gained 232.81 points to close at a new peak of 36,283.25 after scaling an all-time intraday high of 36,443.98 in Monday’s trade.
Brokers said that apart from profit-booking at record levels by participants, a weak trend in other Asian markets following overnight losses at Wall Street hurt trading sentiment.
The wider NSE Nifty too receded from its record closing and dipped below the 11,100 level. The Nifty lost 88.3 points to touch an intraday low of 11,042.10. It had logged a record closing high of 11,130.40 points on Monday.
Asian Paint, Adani Ports, ICICI Bank, Coal India, Wipro, Dr Reddy’s, Tata Steel, L&T, Power Grid, TCS and Kotak Bank were major losers that dragged both the key indices down from their record highs.
Meanwhile, foreign portfolio investors bought shares worth a net of Rs. 291.86 crore, while domestic institutional investors made purchases to the tune of Rs. 90.08 on Monday, provisional data showed.
Most Asian markets were lower in their opening trade.
COMMENTSHong Kong’s Hang Seng was down 0.30 per cent, Japan’s Nikkei shed 0.64 per cent and Shanghai Composite Index was down 0.41 per cent.
The US Dow Jones Industrial Average ended 0.67 per cent lower in yesterday’s trade.>