Sensex down 170 points as profit-booking erases early gains

A file picture of Bombay Stock Exchange. Photo: Vivek Bendre

The Bombay Stock Exchange benchmark Sensex was down by nearly 170 points in the first 45 minutes of the trading today on emergence of profit booking.

Sensex, which opened nearly 110 points high, failed to keep up the momentum and dipped below 18,000 level by slipping 169.71 points to 17,980.16 points at 1000 hrs today.

In a similar manner, the wide-based National Stock Exchange’s Nifty was also trading 37.85 points lower at 5,408.80 at the same time.

Stock brokers said profit-booking of the gains made by bluechips at the outset of the trading session, dragged the Sensex down.

In particular, banking, realty, IT and oil and gas stocks were under selling pressure.