Markets

Sensex drops by 60 points in early trade on profit booking; Nifty slips below 13,100

The Bombay Stock Exchange (BSE) building in Mumbai. File   | Photo Credit: Reuters

Equity benchmark Sensex dropped by 60 points in opening trade on Wednesday due to selling in financial, IT and energy stocks as investors booked profit after sharp gains in the previous session.

The 30-share BSE index opened lower by 60.37 points or 0.14% at 44,595.07.

The broader NSE Nifty was down by 15.30 points or 0.12% at 13,093.75 in opening trade.

Tech Mahindra was the biggest loser among 30 Sensex stocks, dropping by 0.74%.

Among other IT stocks, TCS and Infosys declined up to 0.46%.

HDFC twins dropped up to 0.64% in opening trade, dragging the index down. Index major Reliance Industries fell 0.21%.

Among gainers, Tata Steel rose the most by 1.49%, Titan by 1.41% and Asian Paints by 1.29%.

Auto, FMCG and Infra stocks were trading in the positive territory with L&T rising by 1.23%.

Equity benchmark indices Sensex and Nifty had rallied to fresh lifetime highs on Tuesday, backed by gains in IT and finance stocks amid persistent foreign capital inflows.

The 30-share BSE Sensex zoomed 505.72 points or 1.15% to end at its fresh closing record of 44,655.44. Similarly, the broader NSE Nifty surged 140.10 points or 1.08% to close at its all-time high of 13,109.05.

Meanwhile, other Asian markets shed early gains due to profit booking.

Tokyo stocks dropped by 0.17% and China by 0.22%. Australian stocks also dropped 0.38%.

Oil prices dropped in Asia with the benchmark, Brent Crude, falling by 0.53% to USD 47.16 per barrel.

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Printable version | Jan 18, 2021 8:21:20 PM | https://www.thehindu.com/business/markets/sensex-drops-by-60-points-in-early-trade-on-profit-booking-nifty-slips-below-13100/article33227901.ece

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