Sensex dips below 27k, down 126 pts on profit booking

Sensex after rising to 27,150.78 points in early trade succumbed to profit booking and slipped 126.37 points to 26,931.04 in the late morning trade.

Reversing early trends, the benchmark BSE Sensex dipped below the 27,000—mark by falling over 126 points on Thursday in the late morning trade, largely on emergence of profit booking in blue-chip stocks.

The Sensex after rising to 27,150.78 points in early trade succumbed to profit booking and slipped below the 27,000 mark for the first time since September 5. The index fell 126.37 points, or 0.47 per cent, to trade at 26,931.04 in the late morning trade.

The NSE 50—share Nifty also slipped by 32.50 points, or 0.40 per cent, to 8,061.60 after rising to 8,127.95 in early trade.

Stocks of healthcare, metal, auto, IT, oil and gas and consumer durables sector succumbed to profit booking, dragging the key indices down.

Shares of Sun Pharma plunged 3.97 per cent to Rs 825.50 on heavy selling, triggered by reports of surprise inspection by US drug regulator on its Halol plant in Gujarat.

Brokers said the market turned volatile and participants preferred to book profits at every rise and buying pace also slowed down to some extent.

They said the reports about foreign funds and domestic institutional investors turned sellers on Wednesday also dampened sentiments.

Meanwhile, Foreign Portfolio Investors (FPIs) sold shares worth a net Rs 9.91 crore on Wednesday, as per provisional data from the stock exchanges.