Sensex sheds 98 points in opening trade on profit-booking

Sensex sheds 98 points in opening trade on profit-booking
Mumbai, Nov 29 (PTI) The BSE benchmark Sensex fell by over 98 points in opening trade today as participants booked profits registered during yesterday's rally in the domestic market. However, a firming trend on other Asian bourses, in tandem with overnight gains in the US, capped the losses here.

The 30-share barometer, which surged by 471.70 points in the previous session, declined by 98.37 points, or 0.61 per cent, to 16,068.76 in opening trade today.

The wide-based National stock Exchange Nifty index also followed suit, declining by 20.60 points, or 0.42 per cent, to 4,830.70.

Oil and gas, information technology, capital goods and auto stocks led the decline.

Brokers said a fresh bout of selling to cash in on the recovery in the equity market yesterday mainly led to the decline in the benchmark indices this morning.

They said mounting opposition to the government's move to permit foreign direct investment (FDI) in the multi-brand retail sector also dampened the trading sentiment to some extent.

Meanwhile, in the Asia region, Hong Kong's Hang Seng index was up by 0.39 per cent and Japan's Nikkei by 1.01 per cent in morning trade today.

In the US, the Dow Jones Industrial Average ended 2.59 per cent higher yesterday.


Read more about: bse, nse, fdi, oil and gas, auto
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