Sensex dips over 104 points on profit booking, weak Asian trend

Sep 08, 2010 |

mumbai

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Sensex

The Bombay Stock Exchange benchmark Sensex declined by over 104 points in the early morning trade on Wednesday after rising to a record high in the last two straight sessions, on profit booking and weak trend in Asian markets.

The 30-share barometer, which had gained over 423 points in the past two sessions, fell by 104.41 points, a slip of 0.55 per cent since the Tuesday’s close.

Stocks of oil and gas, metals, banking and realty sectors were under pressure and dragging the Sensex down.

The wide-based National stock Exchange, Nifty index also slipped below its highest benchmark of 5,600 points to 5,567.75 points, 0.64 per cent lower than the previous day.

Brokers attributed the fall in stock prices to profit- booking and a weak trend in the Asian region after overnight losses in the US markets.

Meanwhile, Hong Kong's Hang Seng index was trading lower by 1.32 per cent, while Japan's Nikkei was down by 1.97 per cent in the early trade. The US Dow Jones Industrial Average ended 1.03 per cent down in Tuesday’s trade.

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