Sensex falls by 70 points in early trade

Commentary

oi-Sunil

By Sunil Fernandes

Published: Friday, May 25, 2012, 10:31 [IST]

The BSE benchmark index Sensex today declined by nearly 70 points in early trade as funds and retail investors booked profits after yesterday's gains.

The 30-share index, which had gained 274.20 points yesterday, fell by 69.50 points, or 0.43 per cent, to 16,152.80, with stocks of metals, oil and gas banking sectors succumbing to profit-booking. Similarly, the wide-based National Stock Exchange index Nifty shed 18.60 points, or 0.38 per cent, to 4,902.80. Brokers said profit-booking by speculators after yesterday's gains mainly led to the fall in stock prices.

They said weakness in Asian bourses after initial gains also impacted the sentiments here. In the Asian region, Hong Kong's Hang Seng index fell 0.35 per cent, while Japan's Nikkei Index surrendered initial gains to trade flat. The US Dow Jones Industrial Average ended 0.27 per cent higher yesterday.

PTI