Sensex dips below 27,000 level; Sun Pharma plunges after reports of surprise inspection on its Gujarat plant

Reversing the early trend, the benchmark BSE Sensex dipped below the 27,000-mark by falling over 126 points today 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 the 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 %, 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 %, 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 % 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 yesterday also dampened sentiments.

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