Sensex down 80 points in early trade on profit-booking

Investors were cautious ahead of tomorrow’s monetary credit policy and booked profits after recent gains.

The BSE benchmark Sensex declined by nearly 80 points in early trade today as funds and retail investors booked profits, a day of ahead of RBI monetary policy review.

The 30-share BSE index, which had gained over 287 points in the previous two sessions, declined by 79.69 points, or 0.47 per cent, to 16,659.32.

In a similar fashion, the wide-based National Stock Exchange Nifty index shed 27.25 points, or 0.53 per cent, to 5,021.35

Brokers said investors were cautious ahead of tomorrow’s monetary credit policy and booked profits after recent gains.

Besides, 13.6 per cent dip in third quarter earnings announced late last week by Reliance Industries Ltd (RIL), which has the heaviest weight on the BSE 30-scrip Sensex, also had some impact on the market, they said.

Stocks of Reliance Industries fell by 3.39 per cent to Rs. 766.45.

Meanwhile, in the Asia region, Japan’s Nikkei Index down by 0.14 per cent in early trade today.